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...
China’s Vice President Han Zheng met with Saudi Arabia’s Crown Prince Mohammed bin Salman in Riyadh on Wednesday.
The meeting is part of efforts to reaffirm Beijing’s commitment to strengthen strategic coordination and deepen economic cooperation with the Gulf kingdom.
It highlighted both nations’ commitment to sustain the momentum in their rapidly growing partnership, even as Saudi officials quietly voiced unease about the impact of cheap Chinese imports on local industry.
According to Chinese state media, Han expressed Beijing’s readiness to “enhance high-level exchanges and mutual support” across political, economic, and technological fields.
He emphasised that China views Saudi Arabia as a key partner in advancing cooperation under the Belt and Road Initiative and in promoting stability and development across the Middle East.
For Riyadh, the visit comes at a delicate moment; while Saudi Arabia continues to court Chinese investment and technology as part of its ambitious Vision 2030 plan, local manufacturers have raised concerns that a flood of low-cost Chinese goods could undercut domestic production and hinder the kingdom’s industrial diversification goals.
Crown Prince Mohammed bin Salman welcomed China’s continued engagement but reportedly stressed the need for more balanced trade and collaboration that supports Saudi Arabia’s drive toward self-sufficiency in high-value manufacturing.
The meeting follows a series of high-level contacts between the two nations in recent years, reflecting a steady strengthening of ties beyond the traditional oil trade.
China has emerged as one of Saudi Arabia’s largest trading partners and a growing player in its infrastructure, digital technology, and energy transition projects.
The encounter highlights the careful balancing act both sides are attempting, by maintaining strong political alignment and economic partnership while managing the frictions that come with deeper integration.
For Beijing, Saudi Arabia remains a critical pillar in its Middle East diplomacy; for Riyadh, China is both an essential partner and a formidable competitor in its race to diversify away from oil.
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.
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.
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.
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washington and Westminster deepened over the conflict involving Iran. The call came less than a day after Trump criticised Britain’s response to U.S. strikes on Iranian targets.
Norwegian police are searching for a suspect after an explosion at the U.S. embassy in Oslo on 8 March caused minor damage but no injuries, in what authorities say may have been a deliberate attack linked to the Middle East crisis.
An explosion damaged a synagogue in the Belgian city of Liège early on Monday (9 March) in what authorities said was an antisemitic attack that caused damage but no injuries.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
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