live Oil climbs past $119 a barrel as Iran crisis squeezes global supply - Monday 9 March
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
Kazakhstan and Uzbekistan have signed a new agreement on the transportation of natural gas through Uzbek territory, strengthening bilateral energy cooperation and supporting regional energy security ahead of the winter season.
The contract was concluded between Uzbekistan’s state gas operator Uztransgaz and Kazakhstan’s national gas company QazaqGaz. The document was signed by Askar Isakov, Acting Chairman of Uztransgaz, and Alibek Zhamauov, Chairman of QazaqGaz.
The agreement is designed to ensure stable gas transit and improve the reliability of regional gas infrastructure, particularly during periods of peak seasonal demand. The deal establishes a practical framework for uninterrupted gas transportation across Central Asia and contributes to the smooth operation of cross-border energy logistics.
QazaqGaz Chairman Alibek Zhamauov also held talks with Uzbekistan’s Minister of Energy, Zhurabek Mirzamakhmudov. The discussions focused on the current state of bilateral cooperation in the energy sector, as well as potential joint infrastructure projects and future initiatives aimed at increasing efficiency and sustainability in gas transportation.
Trade and Regional Context
The agreement comes amid broader efforts to deepen economic ties between Kazakhstan and Uzbekistan. Bilateral trade turnover has reached nearly $4 billion, reflecting year-on-year growth of around 15%. The two countries have set a strategic target to increase trade volumes to $10 billion by 2030, highlighting the growing importance of energy cooperation within their wider economic partnership.
The contract reinforces Uzbekistan’s role as an important transit hub in Central Asia and underscores Kazakhstan’s interest in diversified and reliable transportation routes for its energy exports.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
U.S. President Donald Trump threatened further attacks on Iran on Saturday (7 March), while the United Arab Emirates and Saudi Arabia continued to shoot down missiles in their airspace. Meanwhile, Iran’s President Masoud Pezeshkian said Tehran would stop attacking its neighbours.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Türkiye’s official anti-disinformation agency has issued a statement refuting what it described as online “disinformation” and reiterating the strength of relations between Türkiye and Azerbaijan.
Almost 2,000 people have been evacuated from Iran via Azerbaijan since conflict erupted in the Middle East.
Kazakhstan has evacuated more than 7,300 citizens from the Middle East since regional tensions escalated, using both air and land routes to bring nationals home while closely monitoring political developments and potential economic effects linked to rising oil prices.
Istanbul’s mayor, Ekrem İmamoğlu, has appeared in court on Monday alongside 400 co-defendants in a sprawling corruption case that critics say is designed to derail his political ambitions. The charges allege a network of corruption and organised crime linked to the mayor’s office.
Russian grain is once again moving by rail to Armenia along a route that had been closed for decades. The latest freight train departed from Baku on 9 March carrying hundreds of tonnes of grain.
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