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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’s Informal Hormuz Transit Fees Stir Global Shipping Concerns

                                           A cargo vessel near the Strait of Hormuz, on March 22 


Iran has begun informally charging some commercial vessels transit fees—reportedly up to $2 million per voyage—for safe passage through the Strait of Hormuz, one of the world’s most critical maritime energy corridors. 

A Brief Overview

  • Ad hoc fees: Payments are being requested on a case‑by‑case basis, with no standardized mechanism or clear currency guidelines. 
  • Global impact: The strait normally carries about one‑fifth of global oil and gas shipments, making any disruption or added cost a significant concern for energy markets. 
  • Political tension: The move comes amid heightened regional conflict, with Iran signaling interest in formalizing these charges as part of a broader postwar settlement. 
  • International pushback: Countries such as India argue that international law guarantees free navigation and that no nation can impose unilateral fees on this strategic waterway. 

Why It Matters

The uncertainty surrounding who will be charged and how much adds friction to an already tense shipping environment. With only limited vessels currently transiting the strait—many of them Iran‑linked—the informal toll raises concerns about sovereignty, precedent, and the potential weaponization of a vital global trade route. 


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