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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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NATO Downs Second Iranian Missile Over Turkey

 

Debris of a NATO air defence system that intercepted a missile launched from Iran is seen in Dortyol, in southern Hatay province, Turkey, March 4, 2026 .


Turkey has confirmed that NATO air defences intercepted a second ballistic missile launched from Iran, marking the second such incident in less than a week. The missile entered Turkish airspace before being shot down over the southern region near Gaziantep, according to multiple defence statements. 

What Happened

  • The Turkish Ministry of Defence reported that NATO systems in the eastern Mediterranean successfully neutralized the incoming missile. Debris fell in Gaziantep province, but no casualties or major damage were reported.
  • This follows a similar interception days earlier, underscoring rising tensions as Iran continues retaliatory strikes amid the broader U.S.–Israel conflict. 

Regional and International Response

  • Turkey warned it would take “necessary steps without hesitation” against any threat to its airspace, signaling heightened alertness. 
  • NATO reiterated its readiness to defend all allies, emphasizing that this was the second missile intercepted in five days. 
  • The U.S. has urged its citizens to leave southeast Turkey due to escalating security concerns. 

Why It Matters

The repeated missile incidents highlight Turkey’s precarious position—geographically close to Iran, strategically tied to NATO, and increasingly exposed to spillover from the regional conflict. Each interception raises the stakes for Ankara as it balances deterrence, diplomacy, and domestic security.


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