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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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Regional Energy Shock: Iran Strikes Gulf Refineries After Israeli Gas Field Attack

 

                                Qatar Energy said a missile hit its massive Ras Laffan LNG facility on Thursday.

Iran has launched a series of retaliatory strikes on Gulf energy infrastructure after Israel targeted its main offshore gas field, sharply escalating regional tensions and driving global fuel prices higher. 

Iran has intensified its military response in the Gulf following an Israeli strike on its primary offshore natural gas field, launching coordinated attacks on several key energy facilities across the region. According to multiple reports, Iranian forces hit a Saudi refinery on the Red Sea, ignited fires at Qatari liquefied natural gas sites, and struck two major Kuwaiti oil refineries. 

The escalation marks one of the most significant energy-related confrontations in the ongoing Middle East conflict. The attacks have not only heightened geopolitical tensions but also triggered a sharp spike in global fuel prices, with Brent crude surging amid fears of broader supply disruptions. 

Analysts warn that the situation threatens to destabilize global energy markets, given the strategic importance of Gulf oil and gas infrastructure. As both sides signal readiness for further action, the international community is urging restraint to prevent a deeper regional crisis.

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