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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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Macron's Urgent Search for New Prime Minister Amid Government Resignation

French President Emmanuel Macron is urgently seeking a new prime minister following the resignation of Michel Barnier, who stepped down after a historic no-confidence vote in parliament. Barnier's government, which lasted only three months, was toppled due to his controversial 2025 budget plan that included austerity measures. This political upheaval has left France in a state of uncertainty, with Macron aiming to appoint a successor swiftly to stabilize the situation.

The no-confidence vote, supported by both far-right and left-wing lawmakers, marks the first successful ousting of a French prime minister since 1962. Macron's challenge now is to find a candidate who can navigate the deeply divided parliament and address the pressing issues facing the nation. The president is expected to announce his decision soon, as he prepares to host world leaders for the reopening of Notre-Dame Cathedral.



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