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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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US Grants 30-Day Waiver Allowing Purchase of Russian Oil Stranded at Sea

MT Mount Fuji, a Russian oil tanker carrying Russian oil, waits to unload near Narara Marine National Park in the Arabian Sea, Gujarat, India, March 11, 2026..

The United States has issued a temporary 30-day sanctions waiver permitting countries to purchase Russian crude oil and petroleum products currently stranded at sea. According to Treasury Secretary Scott Bessent, the move aims to stabilize global energy markets disrupted by the ongoing Iran conflict. The waiver applies specifically to oil loaded on vessels as of March 12 and remains valid until April 11. 

Russia’s presidential envoy Kirill Dmitriev noted that the measure could affect up to 100 million barrels of Russian crude—nearly a full day of global output—highlighting the scale of oil currently in transit. Oil prices eased slightly in Asia following the announcement, reflecting cautious optimism that the waiver may help ease supply pressures amid heightened geopolitical tensions. 

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