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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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Turkish Vessel Clears Strait of Hormuz After Diplomatic Coordination

 

                                            Coastal scenery near Khasab, in Musandam peninsula.


A Turkish‑owned commercial ship has been permitted to pass through the Strait of Hormuz, according to a statement from Turkey’s transport minister. The development comes amid heightened regional tensions and increased scrutiny of maritime traffic in one of the world’s most strategically important waterways.

The minister noted that Turkish authorities had been in close communication with regional counterparts to ensure the vessel’s safe transit. While no specific threats to the ship were detailed, the passage highlights the delicate balance required to maintain secure navigation in a corridor responsible for a significant share of global energy shipments.

Officials emphasized that Turkey remains committed to safeguarding its commercial fleet and supporting international efforts to keep the strait open to civilian maritime traffic. The ship has reportedly continued its journey without incident.


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