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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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Gulf Tensions Surge as Iran Threatens Regional Energy and Water Infrastructure

 

Streaks of light illuminate the sky during an interception attempt amid the U.S.-Israeli conflict with Iran, as seen from Tel Aviv, Israel, March 23, 2026. 


Iran has issued a stark warning that it may target energy and water infrastructure across Gulf nations if the United States proceeds with a threatened strike on Iran’s electricity grid. The warning follows President Donald Trump’s ultimatum that Washington could hit Iran’s power network within 48 hours, sharply escalating an already volatile regional conflict.

Rising Regional Stakes

Tehran’s threat marks a significant escalation, signaling that any U.S. attack could trigger widespread disruption in a region heavily dependent on interconnected energy and desalination systems. Iranian officials stated they would retaliate by crippling Gulf states’ critical infrastructure, including facilities in Qatar and other neighboring countries. 

Broader Conflict Context

The warning comes amid ongoing hostilities involving the U.S., Israel, and Iran, with recent missile exchanges heightening fears of a broader regional war. Reports indicate that energy facilities have already come under fire during the conflict, and Gulf nations are bracing for potential large-scale disruptions. 


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