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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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Market Turmoil as Crude Spikes: Wall Street Futures Slide

 

US stock futures stumbled sharply as oil prices surged past the $100-per-barrel threshold, rattling global markets and intensifying fears of prolonged geopolitical instability. 

A Rapid Market Sell-Off

Dow, S&P 500, and Nasdaq futures all tumbled early Monday following a dramatic overnight spike in crude oil prices driven by escalating conflict in the Middle East. Futures for all three major indices had plunged more than 2% in pre-market trading before trimming some losses. 

Oil Breaks Above $100 — and Keeps Climbing

Crude prices surged as much as 25% late Sunday, briefly topping $119 a barrel — levels not seen since 2022. The spike was fueled by fears of supply disruptions as conflict involving Iran intensified, threatening key shipping routes and production hubs. Brent crude also soared past $114 a barrel.

Investor Anxiety Deepens

The sudden jump in energy prices has amplified concerns about inflation, consumer spending, and corporate margins. With oil now well above the $100 mark, analysts warn that prolonged instability could weigh heavily on global economic growth and market sentiment.

Global Ripple Effects

The shockwaves were felt worldwide as markets reacted to the possibility of a sustained supply crunch. Gas prices in the US have already begun climbing, and energy costs across Europe and Asia are expected to follow. 


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