Oil prices soar as Iran defies Trump by choosing hardline leader

 Oil prices soar as Iran defies Trump by choosing hardline leader 

 https://www.reuters.com/

• 2 hours ago
  LIVE

  Oil prices soar as Iran defies Trump by choosing hardline leader

  Iran's clerical leadership chose confrontation over compromise in appointing Mojtaba Khamenei.

  Item 1 of 6 People hold placards with an image of Iran's new supreme leader Mojtaba Khamenei in Tehran. Majid Asgaripour/WANA via REUTERS

  [1/6]People hold placards with an image of Iran's new supreme leader Mojtaba Khamenei in Tehran. Majid Asgaripour/WANA via REUTERS
• 32 mins ago
  Iran's hardliners pledge fealty to new leader Mojtaba Khamenei
• 25 mins ago
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• 48 mins ago
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• Commentary

  How Europe can play a bad hand over Iran

  Hugo Dixon

  
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• 1 hour ago
  Oil prices hit highest since 2022 at more than $119 a barrel on Iran war

  Some major producers cut supplies ​and fears of prolonged shipping disruption gripped the market due to the expanding U.S.-Israeli war with Iran.

• 1 hour ago
  Shares slump, bonds skid as oil surge threatens inflation shock
• 2 hours ago
  Global bond markets plunge as oil surge towards $120 prompts rate hike bets
• 2 hours ago
  Middle East conflict sticks 2026 consensus trades into reverse
• Commentary

  Wall Street's immunity to Mideast oil shock will now be tested

  Oil prices surged 30% last week and swathes of global stocks sold off as war in the Middle East escalated, yet an air of complacency hung over Wall Street.

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• 49 mins ago

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• 4 mins ago

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• Compounding errors and narrow self-interest threaten global fuel crisis

  Mounting miscalculations and a retreat to narrow self-interest by major countries, including the United States and China, are threatening to turn the current conflict in Iran into a global crisis for the supply of refined oil products.

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Homepage USMarch 9, 2026 · 7:47 AM EDT

Market Talk: 'Not many off-ramps' available to get oil back under $100

A barrel of Brent Crude hit $119 at one point on Monday morning as traders rushed to price in massive supply disruption in the Middle East. Tim Graf of State Street told Reuters that, short of the collapse of the Iranian government, it's hard to see how this ends quickly, and technical measures like releasing oil reserves may not change sentiment much.

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