Oil prices hit four year high: Latest news on the Middle East conflict on 9 March
Global oil prices reached a four year high on Monday (9 March), surpassing $...
Ukrainian state-owned oil and gas company Naftogaz has signed its first agreement with SOCAR Energy Ukraine, a subsidiary of Azerbaijan’s SOCAR, to import a small volume of natural gas via the Trans-Balkan pipeline.
For the first time, a test shipment of gas is being delivered through the Trans-Balkan route along the Bulgaria–Romania–Ukraine corridor, Naftogaz said in a statement.
"This is a small step in terms in volume, but a strategically important one that paves the way for long-term cooperation. It is also another example of diversifying supply sources and strengthening Ukraine's energy security," Naftogaz CEO Sergei Koretsky was quoted as saying.
This strategic south–north corridor spans Greece, Bulgaria, Romania, Moldova, and Ukraine, and can bring LNG from Greek terminals, Caspian, and hub-based volumes from the Eastern Mediterranean into Central and Eastern Europe.
"This is another clear example of successful diversification of energy sources — a key factor in ensuring reliable preparations for the heating season and its smooth running," new Ukrainian energy minister Svitlana Grynchuk said in a statement.
She added that the route is "extremely important" for Ukraine, as it provides access to liquefied gas at Greek and Turkish LNG terminals, Azerbaijani and Romanian pipeline gas as well as to potentially Bulgarian offshore gas.
A Ukrainian industry source told Reuters that Ukraine is carefully tracking the origin of gas to prevent Russian fuel from being delivered.
"This is Azerbaijani gas, it is controlled. We will continue to develop (the cooperation)," the source said.
Historically, the Trans-Balkan Pipeline (TBP) has served as a major route for transporting Russian gas to Southeast Europe (SEE) and Türkiye. However, its role has gradually diminished over the past decade due to the commissioning of new import infrastructure in SEE, such as TurkStream, and, more recently, the impact of Russia’s invasion of Ukraine. Flows from north to south came to a complete halt with the cessation of Russian transit through Ukraine on January 1, 2025.
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.
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 surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
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.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Global oil prices reached a four year high on Monday (9 March), surpassing $119 a barrel, as conflict in the Middle East rumbled on. Meanwhile, the Turkish Military said NATO air defence systems destroyed a missile fired from Iran towards the country.
Kyrgyzstan recorded the largest increase in women’s representation in parliament worldwide in 2025, according to a new report by the Inter-Parliamentary Union.
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.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Almost 2,000 people have been evacuated from Iran via Azerbaijan since conflict erupted in the Middle East.
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