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The Middle East oil shock

Oil is sold on a world market, so Canadian refiners pay the world price. No official negotiations to end the war are under way.

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Claims from: Saudi Arabia says its East-West Pipeline is shut · Show all story claims

The Bank of Canada said on September 2, 2026 that it saw little sign of expensive energy spreading into other prices. Statistics Canada's August figures came out twelve days later. Which of them bears most directly on the Bank's statement?

Choose the interpretation best supported by the evidence
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