The US oil benchmark soars above $100 a barrel as trading opens, with investors braced for further turmoil after Iran appoints the son of slain leader Ali Khamenei to replace him.
West Texas Intermediate (WTI) jumps 20% to $109.17 a barrel, a level not seen since Russia launched its invasion of Ukraine in February 2022, while the international Brent benchmark contract is up 19% at $110.35.
However, US President Donald Trump dismisses the spike as a “small price to pay” for removing the threat of Iran’s nuclear program.
“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!” he writes on his Truth Social platform.
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From the Liveblog of
Monday, March 9, 2026
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