Headlines

OTTAWA - The Conservative Party of Canada is calling on Ottawa to drop the federal tax on gas and diesel fuel for the rest of the year. Conservative Leader Pierre Poilievre said Thursday that lifting the Fuel Excise Tax, Clean Fuel Standard and GST surcharges from gas and diesel would save about 25 cents a litre. Poilievre estimated the resulting reduction in tax revenue at $5.25 billion. The party said it would permanently eliminate the Clean Fuel Standard after 2026. Poilievre said [Read more]

The United States is not engaged in any discussions to release additional crude oil from strategic stockpiles, an Energy Department official said on Thursday. The International Energy Agency has said it is considering another coordinated release to address supply disruptions stemming from the war in Iran, after its ⁠members in March agreed to release a record 400 million barrels. (Reporting by Richard Valdmanis) [Read more]

March 7, 2026 – HALIFAX, NS – Details of a new significant cost-sharing incentive – including full reimbursement of the first $2 million per well are now available as part of the Call For Participation issued by the Nova Scotia Subsurface Energy Research and Development Investment Program. “Nova Scotia has enough onshore natural gas to meet our needs for 200 years,” said Premier Tim Houston. “Yet we currently import all our natural gas from or through the U.S., exposing the province to market [Read more]

Around 40 countries are discussing joint action to reopen the Strait of Hormuz, Britain said on Thursday, after U.S. President Donald Trump said securing the waterway was a problem for other nations to resolve. British foreign minister Yvette Cooper chaired the virtual meeting, which included France, Germany, Canada, the United Arab Emirates and India and began around midday in London. "We are focusing on the diplomatic and international planning measures, including collective mobilisation [Read more]

Oil prices surged and global equity and bond markets recoiled again on Thursday after U.S. President Donald Trump dashed hopes of a swift resolution to the Middle East war. Brent crude jumpedmore than 7% to trade near $108 a barrel after Trump said in a prime-time address that the U.S. would hit Iran "extremely hard" in the coming weeks and "bring them back to the Stone Ages where they belong". Although he also said the U.S. campaign was nearing an end, the renewed rhetoric left Europe's [Read more]

Russia is ready to contribute to resolving the Iran conflict and President Vladimir Putin is continuing to talk with regional leaders, Kremlin spokesman Dmitry Peskov said on Thursday. "The president is continuing these contacts, and if our services are somehow required, we are, of course, ready to make our contribution to ensuring that the military situation transitions to a peaceful course as soon as possible," Peskov told reporters. Peskov was responding to a question about U.S. [Read more]

The Iran war's energy shock is historic. The real economy has taken it on the chin so far. One of the difficulties in investing around any sudden crisis like the Middle East conflict is that there's very little immediate economic information beyond market sentiment, pricing or anecdotes. By the time reliable data on the economic impact eventually shows up, the crisis is often on the wane. In this case, the most instant jolt was clearly in energy markets and pricing. Global benchmark [Read more]

President Donald Trump staunchly defended his handling of the month-old, U.S.-Israeli war on Iran in a prime-time address on Wednesday, saying the U.S. military was nearing completion of its mission while also reinforcing his threats to bomb the Islamic Republic back to the Stone Age. He delivered his 19-minute speech against a backdrop of high global oil prices and his own low approval ratings. Here are some key takeaways: LOOKING FOR AN EXIT - BUT NOT QUITE YET Trump, facing a war-wary [Read more]

U.S. President Donald Trump told the nation in a televised speech on Wednesday night that the U.S. military had nearly completed the goals it had set out to accomplish in its war with Iran and that the conflict would soon be ending. He added that the U.S. would continue to hit targets in the Islamic Republic over the next two to three weeks. Stocks fell, the dollar firmed and oil rose after Trump's speech. Below are some reactions from investors and analysts: RUSSEL CHESLER, HEAD OF [Read more]