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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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Rising Tensions in the Gulf as Trump Threatens Further Strikes on Iran

 

                            A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. 2026.


The geopolitical climate in the Gulf continues to intensify as U.S. President Donald Trump signals the possibility of additional military action against Iran’s Kharg Island, a critical hub for the country’s oil exports. Trump has emphasized that previous strikes have already caused extensive damage to military targets on the island, yet he warned that further attacks remain on the table. 

Amid these escalating tensions, Trump is also urging allied nations to bolster security efforts in the Strait of Hormuz, a vital maritime passage for global energy supplies. He has called for the deployment of allied warships to ensure safe navigation, as Iran threatens to disrupt shipping in response to U.S. actions. This standoff has raised concerns about potential disruptions to global oil markets and the broader stability of the region.

Iran, for its part, has vowed to intensify its retaliation, warning that any further attacks on its infrastructure could trigger strikes on U.S.-linked oil facilities across the region. As both sides harden their positions, the risk of a broader conflict looms, with no clear path toward de-escalation. 

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