live Oil surges over 25% amid Iran tensions and supply fears - Monday 9 March

Oil surges over 25% amid Iran tensions and supply fears - Monday 9 March
A woman pumps gas at a Shell station as the price of oil and gas has surged amid the U.S.-Israeli conflict with Iran, in Washington, D.C., U.S., 5 March 2026.
Reuters

Global oil prices have surged past $110 a barrel this Monday as fresh U.S.-Israeli strikes hit multiple targets, including oil depots. Stock markets fell on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz, raising concerns over global energy supply.

⦿ 5:26 GMT | UPDATE

Pentagon says 7th U.S. service member killed in Saudi Arabia

CNN

The U.S. military said on Sunday a seventh U.S. service member died in the conflict with Iran after sustaining injuries. 

The military added in a statement that the service member was "seriously wounded at the scene of an attack on U.S. troops” in Saudi Arabia on 1 March. Their identity will remain confidential until their next of kin have been notified.

⦿ 4:58 GMT | UPDATE

At least 32 injured in Bahrain after Iranian drone strike

Reuters

Bahrain said at least 32 Bahraini citizens including children were wounded after an Iranian drone hit the Sitra area this morning, the Health Ministry said.

The ministry added that all the injured are receiving medical treatment and remaining under close observation by medical teams.

⦿ 4:17 GMT | UPDATE

Macron to visit Southern Cyprus

Reuters

French President Emmanuel Macron will visit Southern Cyprus on Monday (9 March), to show support after last week’s drone strikes, the French Presidency said on Sunday.

Macron will meet Southern Cyprus’ President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis to discuss boosting security, while also calling on Iran to halt attacks and ensure freedom of navigation through the Strait of Hormuz.

⦿ 4:07 GMT | UPDATE

South Korea to cap fuel prices amid global energy shock

Reuters

South Korean President Lee Jae Myung announced on Monday that the government will impose a cap on domestic fuel prices for the first time in nearly 30 years.

Speaking at an emergency cabinet meeting, he said authorities would “swiftly and boldly implement” a maximum price system on petroleum products to protect the economy from soaring costs after the Middle East conflict pushed global crude prices higher.

⦿ 3:53 GMT | UPDATE

U.S. orders diplomats in Saudi Arabia to leave due to safety risks

Reuters

The United States urged non-emergency staff and their family members to leave Saudi Arabia amid rising security concerns as Iran strikes the kingdom in retaliation for attacks by Washington and Israel.

The U.S embassies in Bahrain, Kuwait and Jordan had already been evacuated earlier during the conflict.

⦿ 3:50 GMT | UPDATE

Trump says ending Iran war will be a “mutual” decision with Netanyahu

Reuters

U.S. President Donald Trump said on Sunday that any decision to end the war with Iran will be made jointly with Israeli Prime Minister Benjamin Netanyahu. Speaking to The Times of Israel, Trump added that he will consider all factors before deciding when to conclude the conflict.

"I think it’s mutual ... a little bit. We’ve been talking. I’ll make a decision at the right time, but everything’s going to be taken into account," Trump said.

⦿ 3:17 GMT | UPDATE

Oil prices surge as Middle East conflict rattles markets

Reuters

Oil prices jumped over 25% on Monday, the highest since July 2022. The surge follows the expanding U.S.-Israeli conflict with Iran. The resulting price surge also caused the dollar to rise sharply against the euro and the yen.

In the meantime, some major Middle East producers have started cutting supplies as markets fear prolonged disruption to shipping through the Strait of Hormuz.

⦿ 3:06 GMT | BREAKING

Mojtaba Khamenei named Iran’s new Supreme Leader

Reuters

Welcome to AnewZ’s live coverage of the day following the U.S.-Israel strikes on Iran. We are tracking the latest developments, reactions, and regional fallout as events continue to unfold. Stay with us for real-time updates throughout the day.

Mojtaba Khamenei has been appointed Iran’s new Supreme Leader by the Assembly of Experts, according to state media. The announcement comes just over a week after his father, Ali Khamenei, was killed in a U.S.-Israel missile strike.

Iranian officials and the Islamic Revolutionary Guard Corps have pledged allegiance to the new leader, calling for national unity.

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