Oil prices surge above $110 and shares slide over Iran war

BBC News - WorldCenterEN 3 min read 100% complete March 9, 2026 at 03:19 AM

AI Summary

medium article 3 min

Oil prices have surged above $110 a barrel and stock markets have declined sharply following escalating conflict between the US, Israel, and Iran. Airstrikes over the weekend targeted Iranian oil facilities, raising concerns about disruptions to shipments through the Strait of Hormuz, a critical route for about a fifth of the world's oil supply. In Asian trading on Monday, Brent crude rose nearly 24% and Nymex light sweet crude increased over 26%. Stock markets across the Asia-Pacific region experienced significant losses, with South Korea's Kospi index triggering a trading halt due to a steep decline. Analysts predict further oil price increases, potentially exceeding $150 a barrel, if the Strait of Hormuz remains blocked through March.

Key Entities & Roles

Key Player Opposition Context

Peterson Institute 40% Adnan Mazarei 40% Tehran 50% Asia 50% Mojtaba Khamenei 60% Ali Khamenei 60% United States 70% Israel 70% Strait of Hormuz ×480% Iran ×490%

Keywords

oil prices 100% iran war 90% stock markets 80% strait of hormuz 80% energy supplies 70% market disruption 60% airstrikes 60% brent crude 50% economic impact 50%