TORONTO – Escalating conflict between the U.S. and Iran is driving up global oil prices and impacting air travel, according to a CBC News broadcast on Saturday.

U.S.-Iran Tensions Rise

U.S. President Donald Trump has threatened further action against Iran if the Strait of Hormuz is not reopened, warning that the U.S. could “bomb the hell out of them” or “knock them out for a loop.” He also stated that the entire country “could be taken out in one night” if a deal isn’t reached by Tuesday evening, and threatened to destroy Iranian infrastructure, including bridges and power plants. A spokesperson for the Iranian Revolutionary Guard dismissed Trump’s threats as “baseless” and “delusional.”

Iran has presented a 10-point plan to end the conflict, which the U.S. has rejected, though negotiations are reportedly ongoing. Meanwhile, Israeli jets have reportedly struck Iran’s largest petrochemical facility, part of the Pars gas field, and targeted airports near Tehran. Iran has vowed to retaliate “more crushingly and extensively” if its infrastructure is attacked.

Oil Prices and Air Travel Impacted

The closure of the Strait of Hormuz, a key waterway for global oil and gas transport, has caused oil prices to surge to $112 U.S. per barrel, up from approximately $70 before the conflict began. This increase is leading to higher jet fuel prices, prompting Canadian airlines – including WestJet, Air Canada, Porter, and Air Transat – to implement fuel surcharges and extra fees.

While Canada currently has sufficient jet fuel supply, passengers are facing increased ticket costs. Globally, some regions are experiencing fuel rationing and flight cancellations.

U.S. Rescue Mission Inside Iran

The broadcast also detailed a U.S. rescue mission inside Iran to recover two American service members after their fighter jet was shot down. One pilot was rescued shortly after the crash, while the second crew member, injured and stranded, was located and rescued after scaling cliff faces and contacting U.S. forces. The defense secretary compared the rescue to “the resurrection of Jesus.”

Other News

Reuters reported that Iraq could restore crude oil exports to pre-war levels within a week if the Strait of Hormuz reopens. The UN official in Cuba warned of a widening humanitarian crisis due to fuel shortages. Additionally, an arson investigation is underway in Montreal following a downtown fire, and police in British Columbia are investigating a spike in grocery store thefts, particularly of meat, potentially linked to organized crime.