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...
Greetings from Tripoli — a city that stands at the heart of Africa’s energy landscape and today hosts one of the continent’s key regional gatherings: the Libya–Africa International Gas Forum 2025.
Held on 6 and 7 December under the high patronage of the Libyan Ministry of Oil & Gas and the National Oil Corporation, this Forum brings together senior policymakers, major energy companies, and international investors to redefine Libya’s role in Africa’s energy future.
Libya, despite years of political turbulence, remains an energy giant. The country holds the largest proven oil reserves in Africa and significant untapped gas potential — resources that could transform both its domestic economy and regional energy architecture. At a time when Africa is working to integrate its energy markets and Europe seeks to diversify supply routes, Tripoli is using this platform to signal readiness for renewed cooperation and long-term investment.
What makes this gathering unique is the united presence of Libya’s leading institutions alongside delegations from across Africa, the Middle East, Europe, and global financial organisations. Their aim is to evaluate whether Libya can translate its natural wealth into modernised infrastructure, reliable export corridors, and stable partnerships capable of supporting Africa’s broader energy ambitions.
Throughout the sessions, speakers emphasised the same priorities — strengthening regulatory frameworks, rebuilding investor confidence, and accelerating the adoption of advanced technologies. For Libya, this Forum is far more than a business meeting; it is a strategic moment to move from years of fragmentation toward a coherent, forward-looking economic model built on gas and energy diversification.
Expectations are high. Many anticipate that the discussions underway may lead to new exploration deals, technology transfers, and investment commitments that bolster Africa’s collective energy security. For Libya, tangible outcomes here could mark a turning point — reaffirming its position as a central player in both African and Mediterranean energy networks.
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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