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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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Flames on the Water: Iranian Strikes Challenge Trump’s Victory Claim

anian explosive-laden boats appear to have attacked two fuel tankers in Iraqi waters setting them ablaze.

Iranian attacks on oil infrastructure have intensified across the Middle East, directly contradicting President Donald Trump’s assertion that the U.S. had already “won” the conflict. Multiple reports confirm that two foreign oil tankers were set ablaze in Iraqi waters after being struck by suspected Iranian explosive‑laden boats, escalating regional tensions and disrupting vital energy routes.

The strikes have triggered significant economic and geopolitical ripples. Oil prices surged sharply—at times nearing or surpassing $100 per barrel—as Iran warned the world to prepare for prices as high as $200 per barrel. The attacks also forced the shutdown of Iraqi oil port operations and prompted nearby nations to reposition vessels for safety. 

Iran’s actions appear designed to demonstrate its continued military reach and strategic leverage, directly undermining Trump’s narrative of a swift and decisive U.S. victory. As the conflict widens, the burning tankers have become a stark symbol of a war far from resolved.

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