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 $...
Switzerland said on Wednesday (25 February) it would make a one-off payment of 50,000 Swiss francs ($56,000) to each severely injured survivor and to the bereaved families of those killed in the New Year bar fire at the ski resort of Crans-Montana.
The so-called “solidarity contribution” is intended to provide swift financial support to victims and to serve as a gesture of compassion, the Federal Council said in a statement.
In principle, the payment will apply to the family of each person who lost their life, as well as to every individual who was hospitalised as a result of the blaze.
“The Federal Council shares the victims’ and their families’ desire for truth and justice,” Swiss President Guy Parmelin told a press conference.
“We too want to know what happened, why it happened and how it could have been prevented.”
Witnesses and prosecutors said the fire appeared to have been caused by sparkling candles that ignited foam soundproofing on the bar’s basement ceiling.
In total, the federal government will provide 7.8 million francs for 156 people most severely affected by the fire, Justice Minister Beat Jans said. The sum will complement aid from the resort’s home canton of Valais, which has pledged 10 million francs to a foundation set up to support the victims.
Swiss authorities said 41 people died in the fire and 115 people were injured. Most of those who died were teenagers, and many of the victims were foreign nationals, including several from France and Italy.
The Federal Council said it will convene a roundtable to help victims, insurers and authorities reach out-of-court settlements, potentially avoiding lengthy legal battles. Up to 20 million francs has been allocated for this purpose.
The government also plans to allocate a further 8.5 million francs to assist affected cantons with extraordinary costs.
The measures follow an analysis by the Federal Office of Justice, which identified gaps in existing support systems. These systems, primarily designed for individual cases, have struggled to cope with large-scale disasters.
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.
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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