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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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Trump Tells Allies to ‘Take’ Oil from Strait of Hormuz Amid Rising Tensions

 

Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance.


U.S. President Donald Trump has escalated rhetoric over the ongoing crisis in the Strait of Hormuz, urging countries struggling with fuel shortages to “just take” oil from the disrupted waterway. His comments, delivered via Truth Social, targeted nations such as the United Kingdom and France, which he criticized for not participating in U.S.-Israeli military actions against Iran. 

Trump argued that countries dependent on oil shipments through the strait should either purchase American oil or assert themselves militarily to secure their own supply. The month‑long conflict has sharply driven up global energy prices and nearly halted tanker traffic as Iran effectively closed the strategic passage. 

Reiterating that the U.S. would no longer “fight for” nations that did not support its operations, Trump insisted the “hard part is done” and encouraged allies to take responsibility for their energy security. His remarks have added to international unease as global markets continue to react to the instability in one of the world’s most critical oil corridors. 


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