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Oil Just Hit $110 — Could Canada's Energy Boom Offset the Tariff Pain?

  Published September 13, 2026 · 6 min read Brent crude touched nearly $110 US a barrel when trading opened Friday morning — its highest level since the spring — as renewed Iran-linked strikes on Saudi energy infrastructure rattled global supply. It settled back down to close the week around $104.61, but the direction of travel has been unmistakable: oil is up roughly 9-10% in the past week alone. That's bad news at the pump. But according to a CBC News analysis published this morning, it might not be bad news for Canada's economy overall. The argument: the roughly 0.5% hit to GDP from Trump's tariffs could be more than offset by the windfall Canada earns as one of the world's biggest oil exporters. For a personal finance reader, that's really two separate stories — one that costs you money, and one that might be quietly making some of your money back. Here's how to think about both sides of your own ledger. Why oil is spiking again The latest leg up traces to ...
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Arab States May Be Asked to Share Costs of Iran Conflict, White House Indicates

 

Two F/A-18 Super Hornets launch from the flight deck of the US Navy Nimitz-class aircraft carrier USS Abraham Lincoln in support of the Operation Epic Fury attack on Iran from an undisclosed location.

U.S. President Donald Trump is considering urging Arab nations to contribute financially to the ongoing war with Iran, according to White House Press Secretary Karoline Leavitt. During a briefing in Washington, Leavitt noted that while she would not speak ahead of the President, the idea is one he is “quite interested” in pursuing. 

Leavitt emphasized that discussions with Tehran are continuing behind the scenes, despite sharp public rhetoric from Iranian officials. She added that Iran’s private communications differ from its public statements, suggesting some progress in negotiations. 

The President has also issued renewed warnings toward Iran, threatening severe consequences for its energy infrastructure if it does not reopen the Strait of Hormuz. Meanwhile, he has suggested that “regime change” in Iran is effectively underway, citing heavy losses among Iranian leadership factions. 

As the conflict continues, the administration signals that more details on potential Arab financial involvement may be forthcoming.

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