UN Security Council passes resolution condemning Iran for strikes on Persian Gulf states

UN certificate Council votes on 2 persia outline resolutions

Anand says Canada to co-sponsor UN resolution condemning Iran's strikes on Gulf states

Fact check: Old video of missile attack in Israel

'This is a nightmare,' says woman in Beirut after strike near home

U.S. Threatens to increase strikes on Iran if oil tankers attacked

Israeli attacks force 700,000 from homes in Lebanon

‘Iranians are done with the regime’: Iranian Canadian on Middle East unrest

Canadians fleeing war in Middle East arrive in Saudi Arabia

3 cargo vessels hit in Strait of Hormuz

How high will the U.S.-Israel war with Iran push gas prices? | About That

Could the new supreme leader be a 'reformer' for Iran?

White House says oil prices will drop once Iran war objectives are achieved

Israel warns of imminent attacks on Tyre, Sidon in Lebanon

Trump delivers mixed messages about ending war on Iran

Poilievre condemns 'political violence of any kind' after gunfire targets Toronto's U.S. Consulate

'I want to stay here for my students,' says Canadian in Lebanon

Trump say he 'doesn't know enough' about Iran school strike

War may end with Iran regime intact, radicalized, says former MI6 chief

Canadian with family in Lebanon describes 'very emotional' time

What people in Iran are telling us about the war

Israel's offensive in Lebanon has killed more people and further displaced others across large swaths of the country.

Iran vows to hit banks in the Middle East and to continue to increase pressure, as the Iranian public has yet to hear from the newly-appointed leader who is reportedly injured.

Some oil reserves will be opened as U.S. Stocks hold relatively steady even as crude oil prices rise again.

Earlier, Nebenzya criticized Bahrain's resolution for being unbalanced in not calling out the U.S. And Israel for the strikes that triggered this conflict. 

Nebenzya argued Iran has a right to defend itself and its retaliatory strikes have not been against Gulf states specifically but targeted at "aggressors."

Following those comments, U.S. Representative Mike Waltz accused Iran of turning its neighbouring countries into "battlegrounds." He said the U.S. Was forced to act after President Trump "exhausted every attempt at diplomatic negotiations," adding that Iran was "barrelling toward a nuclear disaster."

Russia's draft resolution before the UN Security Council failed to pass after most members abstained from voting. 

The resolution had called for all parties involved in the war to immediately stop military activities and encouraged them to immediately return to the negotiating table. It also would have seen the council condemn any strikes against civilian infrastructure. 

China, Pakistan, Russia and Pakistan voted in favour, while the United States and Latvia voted against. The abstentions were Bahrain, Colombia, Democratic Republic of the Congo, Denmark, France, Greece, Liberia, Panama and the United Kingdom. 

Ahead of the vote, Russia's delegate Vasily Nebenzya said the draft resolution was meant to be an impartial document aimed at de-escalation. 

An Air Transat executive says the airline will start charging more for flights to Europe as the soaring cost of jet fuel weighs on carriers here and abroad.

The Canadian airline is also raising fares "on peak travel dates and routes where we see less competition, where we have more flexibility," chief financial officer Jean-François Pruneau said during an earnings call today.

Several international airlines have added fuel surcharges — a fee tacked on to airfares to cover unforeseen oil costs — to account for the spike in fuel prices since the U.S. And Israel attacked Iran on Feb. 28. 

According to a price tracker published by the International Air Transport Association, the cost of jet fuel — which tends to be an airline's biggest expense — skyrocketed 58.4 per cent between Feb. 27 and March 6, from $99.40 US to $157.41 US per barrel.

The markets were pretty calm today, though most U.S. Stocks slipped. The S&P 500 finished the trading day down 0.1 per cent, while the Dow Jones Industrial Average slipped 0.6 per cent and the Nasdaq composite was 0.1 per cent higher. 

Even as the International Energy Agency announced its members would release a record amount of oil from their reserves, prices continued to creep up. As of 4:15 p.m. ET, WTI Crude was priced at $88 US a barrel and Brent Crude cost nearly $92 US a barrel.

The second resolution before the council, authored by the Russian Federation, deals with attacks against civilians and infrastructure. 

Ahead of a vote on that resolution, one of Iran's neighbouring countries spoke about how the conflict has disrupted life there. 

Pakistan's representative Asim Iftikhar Ahmad said the country's fuel supplies have been affected, several aviation ways have been disturbed and at least two Pakistanis have lost their lives in strikes on the U.A.E. 

"The consequences of the conflict we are witnessing right now are clear … this is a conflict that never should have happened," Ahmad said. 

The UN Security Council is voting on two draft resolutions about the conflict in the Middle East this afternoon. 

The first resolution was brought forward by Bahrain on behalf of the Gulf Cooperation Council, which represents several Gulf states including Qatar, Saudi Arabia and the U.A.E. It calls for an end to missile and drone attacks by Iran against their countries. 

The resolution was adopted, with 13 members voting in favour and two members — China and Russia — abstaining. No members voted against it. 

Bahrain's representative Jamal Fares Alrowaiei thanked the council for taking a clear stance and rejecting attacks against the Gulf states.

Carney spoke with G7 leaders today about the ongoing hostilities in the Middle East.

The leaders, including U.S. President Donald Trump, discussed "the global economic implications of the crisis," according to a readout from the meeting. They also collectively supported the IEA decision to release 400 million barrels of oil from emergency stocks in light of the conflict.

Carney specifically talked about the issue of protecting shipping in the Strait of Hormuz, the readout said.

"Prime Minister Carney emphasised Canada's support for efforts to safeguard international shipping and ensure freedom of navigation," it says.

The International Energy Agency is recommending the release of oil from strategic reserves to help stabilize rising oil prices, but Russia stands to benefit from an energy market in turmoil. 

The cost of its heavily sanctioned oil has surged over the past two weeks, and comes as the country is grappling with growing budgetary problems. 

According to data from the Russia's Finance Ministry, its state oil and gas revenues fell by 44 per cent in February this year compared to last. However, oil markets changed drastically after Feb. 28, when the U.S. And Israel started launching strikes on Iran.

On Monday, U.S. President Donald Trump told reporters that sanctions were going to be eased on "some countries" to help with supply, but didn't get into specifics. 

Earlier, Washington allowed India to buy Russian crude that was already on tankers at sea to help with supply shortages. 

Sergei Pikin, the Moscow-based director of the Energy Development Fund, said he doubts that Trump is about to lift all sanctions on Russian oil. Still, he expects that overall the energy crisis could be good for Russia's budget. 

"This really plays into Russia's hands, because Russia continues to supply what it has to China, India and a number of other countries."

Russia's 2026 budget assumes that it can sell its crude for $59 US per barrel. 

Reuters reported that two weeks ago it was being sold for $45 a barrel — and on Monday, when prices spiked, it was being offered at $76 a barrel.

Could Canada fill the Iran war oil supply gaps?

With the Iran war threatening to upend much of the world's oil and gas supply from Gulf states, experts say there could be a big uptick in demand for Canadian energy products, but Canada's limited ability to get the products to market could be an obstacle.

vim regime minister Tim Hodgson told reporters the government is in " fighting(a) discussions" with the canadian river energy industry about how to contribute to the world's supply of oil, but didn’t provide any tangible details.

"We expect to say more in the next day or two," he said, adding Canadian producers are already at capacity and could only increase output by delaying downtime.

Industry players provided me with background information showing around 250,000 additional barrels of oil could be added to Canada's current pipelines. But doing so would take weeks, if not more than a month, to implement.

Even more crude oil can be transported by railway, but experts told me last week that because oil-by-rail is more expensive, international prices might have to stay at least above $80 a barrel.

At the time we spoke, prices weren't that high. But oil-by-rail may now look more attractive if international prices stay where they are or jump more. 

There's no public indication more train-based energy is coming. 

But when asked how oil could get from Alberta to Canada's east coast, Hodgson said there were "different solutions... One of them would be rail."

Israel's offensive in Lebanon has killed more people and further displaced others across large swaths of the country.

Iran vows to hit banks in the Middle East and to continue to increase pressure, as the Iranian public has yet to hear from the newly-appointed leader who is reportedly injured.

Some oil reserves will be opened as U.S. Stocks hold relatively steady even as crude oil prices rise again.

---

---