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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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Iran Seeks Regional Calm as President Issues Rare Apology Amid Escalating Conflict

 

An explosion on Beirut's southern suburbs after an Israeli strike, following an escalation between Hezbollah and Israel amid the US-Israeli conflict with Iran, Lebanon, March 6, 2026.


As the war enters its second week, Iran’s President Masoud Pezeshkian has issued an unusual public apology to neighbouring countries affected by Tehran’s recent military actions. He acknowledged the impact of Iranian strikes across the region and pledged that Iran would refrain from targeting nearby states unless attacks on Iran originate from their territory. 

Despite the conciliatory tone, the conflict continues to intensify. Israel and Iran have exchanged fresh strikes, with missiles and drones still hitting cities across the Gulf. Iran’s temporary leadership council has reportedly approved suspending attacks on neighbouring states, but only conditionally, as tensions with the United States and Israel remain high. 

The apology appears aimed at easing regional anger after Iranian projectiles struck civilian areas in Gulf countries. However, with ongoing bombardments and rising casualties, the path to de-escalation remains uncertain. 


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