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...
After a call with UK Prime Minister Keir Starmer, Ukrainian President Volodymyr Zelenskyy said Kyiv now sees “many prospects” for peace, pointing to progress made during recent discussions with U.S. officials in Geneva, Switzerland.
Moreover, Starmer is scheduled to lead a call of the “Coalition of the Willing” later on Tuesday, as Ukraine’s allies assess recent diplomacy and coordinate on next steps regarding the amended plan. Zelenskyy said the coalition discussions would address “priority issues for discussion, as well as some of the next steps and contacts.”
These developments come after European nations submitted a revised version of the Trump administration's peace proposal on Monday. Reportedly, this revision removes several provisions from the original U.S. 28-point plan, which had caught Ukraine and European partners off guard last week.
The 28-point U.S.-backed plan, while affirming Ukraine’s sovereignty, proposed freezing territorial lines with Crimea, Luhansk and Donetsk recognised as de facto Russian, and limiting Ukraine’s armed forces while formally excluding NATO membership. In return, Russia would commit to non-aggression, halt expansionist actions, accept arms-control measures and allow international oversight of sensitive sites such as the Zaporizhzhia Nuclear Power Plant.
The draft raised concerns in Europe that Kyiv might be pressured into concessions seen as aligning with Russian interests. Reuters obtained a copy of the European counterproposal, which several U.S. outlets confirmed with European sources to be accurate. Reportedly, the European revisions aim to strike a balance by removing provisions that Kyiv and several European nations viewed as unacceptable or overly favourable to Russia.
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.
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.
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.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment