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5 Things to Know Today: Oil Tops $108, CPI Day, and the Investment Summit Kicks Off

  Monday, September 14, 2026 A busy Monday for your wallet: oil has punched through $108 a barrel on a second Middle East supply shock, Statistics Canada's August inflation report lands this morning, and Toronto is hosting the country's first-ever Investment Summit. Here's what's moving and what it means for you. 1. Oil jumps to a 4-month high after Saudi pipeline shutdown Brent crude touched roughly $108 a barrel and WTI neared $103 on Monday after Saudi Arabia shut down its East-West pipeline — a 7-million-barrel-a-day route that bypasses the Strait of Hormuz — following drone strikes near Medina. A planned Oman meeting between Iran and Gulf states to de-escalate Hormuz shipping tensions was also postponed over the weekend, removing a near-term path to calm. Both benchmarks are now up roughly 9% over the past week alone, and some bank forecasts flag $120 oil as back on the table if disruptions persist. What it means for you: Pump prices, which had been easing thanks ...
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Hot, Humid Air Fuels Thunderstorm Risk in Southern Ontario

 

As the intense heat and humidity persist, southern Ontario remains under the threat of thunderstorms. High temperatures and moisture create favorable conditions for storm development, with the risk extending into the weekend.

Heat and Humidity: Key Drivers

  • Heat Dome: The Great Lakes region is currently enveloped by a heat dome, amplifying the risk of thunderstorms.
  • Unstable Atmosphere: Thursday will see an unstable atmosphere, allowing for additional thunderstorm activity.
  • Uneven Heating: Pockets of uneven heating throughout the day, along with convergence, will determine localized storm activity.

Potential Impacts

  • Severe Storms: Some thunderstorms could become severe due to torrential rainfall and locally gusty winds.
  • Heavy Rainfall: Ample moisture in the atmosphere means heavy rain, especially if storms linger over the same location.
  • Localized Flooding: Urban areas are at risk of flash flooding as storms move slowly across.

Stay Prepared

  • Widespread Heat Warnings: Temperatures soar into the 30s, feeling even hotter with the humidex.
  • Evening and Overnight Storms: Another round of thunderstorm activity is possible during these hours.


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