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 $...
The United States and international partners have announced billions of dollars in pledges to rebuild Gaza but many Palestinians remain sceptical about whether the funds will translate into tangible improvements for daily life.
At the inaugural meeting of the Board of Peace in Washington on 19 February, U.S. President Donald Trump said nine member states had pledged a combined $7 billion towards Gaza relief and reconstruction. The U.S. itself pledged $10 billion, although details on how the funds would be allocated were not clarified.
Observers emphasise that even these substantial contributions represent only a fraction of the estimated $70 billion believed to be necessary to rebuild infrastructure devastated by more than two years of conflict.
Some of those affected by the war welcome the pledges but are wary of what they will actually deliver.
“We hope that the reconstruction happens quickly and that the money that has been allocated truly goes to the right place and isn’t mismanaged in any way,” said Nael Al‑Nawasrah, a displaced Gazan.
Others expressed deeper doubts about the political motives behind the pledges.
“No, of course I’m not optimistic… it feels pointless. There won’t be any reconstruction. This is clearly part of a plan by the occupation, with the Americans involved,” said Omar Al-Masri, another displaced person, arguing that past reconstruction efforts have often fallen short of expectations.
The Board of Peace was established under the broader framework of Trump’s 20‑point Gaza plan, which helped secure a ceasefire in October 2025.
A key pillar of the board’s agenda is the creation of an international stabilisation force.
The force is intended to be a multinational contingent providing security, supporting demilitarisation and assisting with police training in Gaza. However, its full deployment remains subject to political agreement.
Israeli Prime Minister Benjamin Netanyahu has reiterated that no significant reconstruction will take place until Gaza is demilitarised, tying rebuilding to the dismantling of armed groups.
“We agreed with our friends in the United States: there will be no reconstruction of the Strip before it is demilitarised,” he said, underlining Israel’s security conditions for rebuilding.
As pledges continue to accumulate and strategic conditions are negotiated, Gazans are watching closely to see whether promised reconstruction funds will deliver real progress on the ground.
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.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
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.
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.
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.
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.
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