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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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Energy Frontlines: U.S. and Iran Edge Toward Wider Gulf Conflict

The tanker RARITY sits at anchor as lightning flashes in the distance, amid the U.S.-Israeli conflict with Iran, off Sultan Qaboos Port in Muscat, Oman, March 21, 2026.

Rising Tensions Over Strategic Energy Sites

U.S. President Donald Trump and Iranian officials have intensified their rhetoric as the conflict between the two nations deepens, with both sides threatening to strike critical energy infrastructure across the Gulf region. 

The latest escalation began when Trump warned that the United States would “obliterate” Iran’s power plants if Tehran failed to fully reopen the Strait of Hormuz within 48 hours—a vital maritime passage for global oil shipments.  Iran responded by vowing to target U.S. infrastructure, including energy facilities, should Washington carry out its threat. 

Global Markets on Edge

The possibility of strikes on energy and fuel facilities has raised alarms among global markets, which are already strained by weeks of conflict. Analysts warn that any disruption in the Strait of Hormuz—through which a significant portion of the world’s oil supply flows—could trigger sharp spikes in energy prices and deepen the regional crisis. 

Escalation Amid Ongoing Attacks

The threats come as missile barrages and air raid sirens continue across Israel and the broader region, with recent Iranian strikes injuring civilians in southern Israeli towns. The conflict, now entering its fourth week, shows little sign of de-escalation despite earlier suggestions from Washington of a potential wind‑down. 


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