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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...
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France Bolsters Mediterranean Presence Amid Rising Tensions

 

French President Emmanuel Macron delivers a speech next to the submarine 'Le Temeraire' (The Temerarious) at the nuclear submarines Navy base Ile Longue 


A French frigate is set to arrive in Cypriot waters as President Emmanuel Macron orders the deployment of the aircraft carrier Charles de Gaulle to the Mediterranean, marking a significant escalation in France’s regional military posture. 

The move follows a recent drone strike on Cyprus, prompting France to reinforce the island’s defenses with additional air‑defense assets and naval support. Macron emphasized the need to protect European partners and maintain stability as conflict in the Middle East intensifies. The Charles de Gaulle, accompanied by its air wing and escorting frigates, has been directed to reposition from the Baltic Sea to the Mediterranean to support allied operations and deter further threats. 

French officials underscored that these deployments reflect a broader commitment to safeguarding regional security as tensions rise following US‑Israeli airstrikes on Iran. Macron warned of the risk of the conflict spilling over into Europe and affirmed France’s readiness to continue its defensive efforts as long as necessary. 

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