If you’ve felt the sting at the gas pump lately, you’re not alone. Since the US/Israel–Iran conflict began, oil prices have shot up and continue to climb. Brent crude oil is over 50% higher, West Texas Intermediate (WTI) nearly 70%. But the impact goes beyond filling up your vehicle, pushing up transportation costs and, in turn, the price of goods on store shelves – in other words, inflation. In this week’s update, let’s look at the differences between Brent and WTI oil (what are they anyway?), where does Canadian oil fit in, and why are these rising prices rippling through the economy.