Business & Economics
Oil Surges Past $110 as Hormuz Blocked and G7 Mulls Emergency Reserve Release
On 9 Mar 2026, crude prices vaulted above US$110–116 a barrel for the first time since 2022 after the Iran-U.S-Israel war stalled tanker traffic through the Strait of Hormuz, triggering an emergency G7 discussion on tapping strategic oil reserves.