News

Video: Drones hit Bahrain’s Bapco oil refinery Drones hit Bahrain’s Bapco refinery early Monday, sending plumes of smoke over the Gulf’s oldest oil facility and damaging parts of the complex. The strikes also affected nearby residential areas, injuring 32 civilians, with four in serious condition. The attack comes as the regional conflict moves towards directly threatening vital energy infrastructure across the region. Drones hit Bahrain’s Bapco refinery early Monday, sending plumes of smoke over the Gulf’s oldest oil facility and damaging parts of the complex. pic.twitter.com/Uld2GDlpxU March 9, 2026

2 die in Saudi Arabia, reportedly first deaths since Iran conflict started  nhk.or.jp

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Crude oil prices spike above $115 a barrel as the Iran war impedes production and shipping  AP News

Finance ministers of G7 nations to hold emergency talks on releasing oil reserves Finance ministers from the G7 nations will hold an emergency meeting to discuss releasing strategic oil reserves as global crude prices surge, the Financial Times reported, citing sources. The move is being considered to stabilise energy markets amid disruptions linked to the widening Middle East conflict. US officials reportedly believe that releasing between 300 million and 400 million barrels from strategic reserves could help ease supply pressures and calm volatile markets. The discussions come as oil prices have spiked sharply and fears grow over disruptions to ships through the Strait of Hormuz.

Pakistan Stock Exchange plunges as oil shock rattles global markets Pakistan Stock Exchange benchmark index plunged more than 9,000 points in early trading, which resulted in trade suspension in the market for 45 minutes, local media reported.  The development came amid escalating Middle East tensions, triggering a massive sell-off, the report said, adding that the benchmark index shed a massive 9,780 points in its opening session.  Similar scenes were witnessed in markets across Asia, including Japan, South Korea and India, where the market value of shares fell sharply as the oil shock above $115 rattled global markets.

March 9 (Reuters) - Oil prices have soared while share markets have skidded on fears that the escalating U.S.-Israeli war on Iran will squeeze energy supplies and hamstring industries around the world. Following are actions that governments are taking or plan to take to reduce the impact of the war on their economies. SOUTH KOREA PLANS FUEL CAP

One Strait, 20 Million Barrels: Could Hormuz Trigger An Oil Shock Bigger Than 1973?  NDTV

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Goldman Sachs: If crude oil shipments through the Strait of Hormuz remain low this month, oil prices could surpass historical highs.  富途牛牛

Iran has named hardliner Mojtaba Khamenei as the country’s new supreme leader; Donald Trump says oil price spike ‘a small price to pay’ as markets tumble Full report: Ali Khamenei’s son Mojtaba chosen as Iran’s new supreme leader Tell us: how have you been affected by the latest events in the Middle East? Australian shares plunged on Monday, wiping about $13obn from the value of the ASX midway through the trading session, after a sharp rise in oil prices caused by the Middle East conflict sparked concerns of a breakout in global inflation. The benchmark S&P/ASX 200 was down 4% in lunchtime trading to dive below the 8,500 point mark, marking the single biggest one-day drop since the announcement of Donald Trump’s “liberation day” tariffs last year. Continue reading...

Crude oil prices surpass $100 a barrel as the Iran war impedes production and shipping  Los Angeles Times

Explosions heard in Doha as Iran attacks multiple targets in Gulf Explosions were heard early Monday in the Qatari capital Doha as Gulf countries reported new missile and drone attacks linked to Iran’s retaliatory campaign in the region, AFP reported.  Qatar’s Defence Ministry said a missile targeting the city was intercepted as air defences responded to the attack. Meanwhile, Kuwait said its air defences were confronting hostile missiles and drones, days after projectiles hit fuel tanks at Kuwait International Airport. Saudi Arabia also reported intercepting two drones heading toward the Aramco-operated Shaybah oil field, while Bahrain said missile debris injured three people and a desalination plant was struck by a drone.

Crude oil prices surge more than 20 percent as sprawling regional conflict threatens global energy supplies.

On Sunday, oil prices surpassed the milestone $100-a-barrel for the first time in more than three-and-a-half years

Major disruption to energy supplies threatens to push up prices for consumers and businesses around the world.

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10 vessels attacked in Hormuz Strait: analysts  France 24

10 vessels attacked in Hormuz Strait: analysts  Yahoo Finance UK