Web Desk/AFP

<em style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 18px; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;' id="isPasted">This live blog follows updates for Day 11 of the US-Israel war on Iran<hr style="line-height: 2;"><ul style="list-style-type: square;"><li id="isPasted" style="line-height: 2; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;">Donald Trump says the Iran war will end soon and claims US-Israeli strikes achieved objectives</li><li id="isPasted" style="line-height: 2; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;">Israel launches broad strikes on Tehran and other Iranian targets&nbsp;</li><li id="isPasted" style="line-height: 2; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;">Iran retaliates with missiles and drones across the Gulf, hitting energy facilities</li><li id="isPasted" style="line-height: 2; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;">Global tensions rise as oil prices surge and shipping giant Mediterranean Shipping Company halts some Gulf exports</li><li id="isPasted" style="line-height: 2; color: rgb(0, 0, 0); font-family: Arial, Helvetica, sans-serif;">Putin and Trump discuss the Iran and Ukraine wars, urging a diplomatic settlement</li></ul><hr style="line-height: 2;"> Canada PM Carney calls Qatar emir amid Iran war<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;" id="isPasted">Published March 10, 2026 | 01:52 GMT<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;"> Canadian Prime Minister Mark Carney has said that he telephoned Qatar&rsquo;s Emir Sheikh Tamim bin Hamad Al Thani, to express his &ldquo;solidarity with Qatar in the face of Iranian missile and drone attacks,&rdquo; Al Jazeera reports Carney said that he also thanked Qatar&rsquo;s emir &ldquo;for working to ensure the safety of Canadians in Qatar and working with Canada to secure transportation options for Canadians wishing to leave the country&rdquo;. Iran Guards say they &#39;will determine the end of the war&#39;<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;" id="isPasted">Published March 10, 2026 | 00:45 GMT<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;"> Iran&#39;s Revolutionary Guards said on Tuesday they would &quot;determine the end of the war&quot; in the Middle East after US President Donald Trump said the conflict would end &quot;soon&quot;. &quot;It is we who will determine the end of the war,&quot; the Guards said in a statement. &quot;The equations and future status of the region are now in the hands of our armed forces; American forces will not end the war,&quot; the statement added. Trump says Iran war &#39;going to be ended soon&#39;<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;" id="isPasted">Published March 9, 2026 | 22:50 GMT US President Donald Trump said that the war on Iran would end soon, without setting a date, as he claimed the US-Israeli attack had achieved objectives. &quot;It&#39;s going to be ended soon, and if it starts up again, they&#39;ll be hit even harder,&quot; Trump told a news conference. Trump says Iran school strike &#39;being investigated&#39; by US<p style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: sans-serif; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; color: rgb(65, 65, 65); font-size: 14px; text-align: left; background-color: rgb(255, 255, 255); line-height: 2;" id="isPasted">Published March 9, 2026 | 22:50 GMT The United States is investigating a deadly strike on a school in the opening days of the US-Israeli war on Iran, President Donald Trump said. &quot;That&#39;s being investigated right now,&quot; Trump said of the strike on an elementary school in the southern city of Minab, which Iran said killed more than 150 people. &quot;Whatever the report shows, I&#39;m willing to live with that report,&quot; Trump said, adding he did not &quot;know enough about&quot; the strike while also suggesting Iran may have used a Tomahawk missile &mdash; a weapon it does not possess &mdash; to hit the school itself.

Americas

Middle East

Global shipping firm MSC halts certain Gulf export shipments due to Middle East war risks; France and allies plan a mission to reopen the Strait of Hormuz; Hezbollah launches missiles toward Israel



Trump says Iran war 'going to be ended soon' as US investigates Iran school strike

WASHINGTON: US Secretary of State Marco Rubio announced Monday he has designated Afghanistan as a &quot;State Sponsor of Wrongful Detention,&quot; demanding Taliban authorities release two Americans and commit to ending its &quot;hostage diplomacy.&quot; The move comes just over a week after Iran became the first country added to Washington&#39;s new &quot;wrongful detention&quot; blacklist. President Donald Trump, in September, signed an executive order that created the blacklist, similar to designations by the United States on terrorism. &quot;The Taliban continues to use terrorist tactics, kidnapping individuals for ransom or to seek policy concessions,&quot; Rubio said in a statement. He said it was &quot;not safe for Americans to travel to Afghanistan because the Taliban continues to unjustly detain our fellow Americans and other foreign nationals.&quot; &quot;The Taliban needs to release Dennis Coyle, Mahmoud Habibi, and all Americans unjustly detained in Afghanistan now and commit to cease the practice of hostage diplomacy forever,&quot; he added. Habibi, an Afghan-American businessman, previously served as Afghanistan&#39;s director of civil aviation. He was arrested in August 2022 in Kabul along with dozens of other employees of his telecommunications company, according to US authorities. The State Department has issued a reward of $5 million for information leading to Habibi&#39;s return. Coyle is an academic from Colorado who worked for two decades in Afghanistan before being detained in January 2025, according to the James Foley Foundation.

Move comes just over a week after Iran became the first country added to Washington's new "wrongful detention" blacklist; Rubio says Taliban “continues to use terrorist tactics, kidnapping individuals for ransom or to seek policy concessions." 





US designates Afghanistan as 'state sponsor of wrongful detention'

Web Desk

ISLAMABAD: Pakistan Navy launched Operation Muhafiz-ul-Bahr to counter &ldquo;multidimensional&rdquo; threats to national shipping and maritime trade amid an evolving regional maritime security environment, the military&#39;s media wing said Monday. According to a statement issued by the Inter-Services Public Relations, the initiative aims to ensure the uninterrupted flow of national energy supplies and the security of Sea Lines of Communication. It stated that Pakistan Navy escort operations are being conducted in close coordination with the Pakistan National Shipping Corporation, adding that the navy is actively monitoring and controlling the movement of merchant vessels to ensure their safe and secure transit. With approximately 90% of Pakistan&rsquo;s trade conducted by sea, the operation aims to ensure that vital sea routes remain safe, secure, and uninterrupted, the statement said. It added that Pakistan Navy ships are currently escorting two merchant vessels, one of which is scheduled to arrive in Karachi on Monday. The navy remains fully prepared to respond to emerging maritime security challenges and is committed to ensuring the safety of national shipping and regional maritime security, the statement said.

Security

The operation aims to counter 'multidimensional' threats to national shipping and maritime trade amid an evolving regional maritime security environment.

Pakistan Navy launches Operation Muhafiz-ul-Bahr to secure shipping routes

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Monday announced austerity measures amid rising global oil prices, citing disruptions to trade in the Strait of Hormuz. Addressing the nation, the prime minister said the federal and provincial governments had unanimously decided on austerity measures, including a 50% immediate cut in fuel for government vehicles for two months. Ambulances and public buses will be exempt, he said. The prime minister said that in the public and private sectors, 50% of staff will work from home, excluding essential services. He added that offices will remain open only four days a week to save fuel, noting that this does not apply to banks, industry, or agriculture. According to him, two-week school holidays will begin at the end of this week, while higher education will move to online classes. He said that 60% of government vehicles will be grounded for the next two months, while cabinet members and ministers will not take salaries for two months. Sharif also announced a complete ban on foreign travel for ministers and officials, including the prime minister, chief ministers, and governors, unless the visits are essential for national interest. He added that teleconferencing will be prioritized to reduce fuel use. Speaking about hoarders and profiteers, the prime minister warned that the law would &ldquo;act against them&rdquo; without discrimination. The prime minister&rsquo;s address comes at a time when the global economy and oil supply chains are being severely affected by clashes along key Middle Eastern trade routes.

Economy

Pakistan Prime Minister Shehbaz Sharif announces austerity measures amid soaring global oil prices and disruptions to trade in the Strait of Hormuz.

Pakistan announces austerity measures amid oil supply disruptions due to Mideast clashes

ISLAMABAD: Afghan traders are warning that food supplies in local markets could run out by April if the Afghan Taliban continue forcing traders to sell essential goods below market prices, amid import disruptions. Several local Afghan media outlets reported that traders said continued pressure on <a href="https://www.pakistantv.com/article/malnutrition-crisis-in-south-asia-a-tale-of-two-nations" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">food imports</a> and supply routes could sharply reduce the availability of essential goods across markets. Khan Jan Alokozay, a board member of the Afghanistan Chamber of Commerce and Investment, said traders may halt imports if forced by Taliban authorities to sell goods below market prices despite rising costs. &ldquo;If traders are forced to sell goods cheaply, they will stop importing food items,&rdquo; Alokozay said in comments reported by Afghan media outlets. Humanitarian agencies say these warnings come as Afghanistan faces one of the world&rsquo;s most&nbsp;<a href="https://www.pakistantv.com/article/afghanistan-hunger-crisis-deepens-as-47-million-face-emergency-food-shortages-wfp" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">severe food crises</a>. The World Food Programme says worsening economic conditions,&nbsp;<a href="https://www.pakistantv.com/article/afghanistan-at-risk-of-losing-40-of-farmland-in-worst-drought-in-decades" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">climate shocks</a>,&nbsp;and disruptions to regional trade are deepening food insecurity across the country. According to United Nations estimates, about 17.4 million people in Afghanistan are projected to face crisis or emergency levels of acute food insecurity in 2026. Afghanistan relies heavily on imported food, particularly wheat flour and cooking oil, leaving&nbsp;<a href="https://www.pakistantv.com/article/afghan-markets-remain-stocked-but-poverty-leaves-22-million-unable-to-buy" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">markets vulnerable</a>&nbsp;to disruptions in cross-border trade and regional instability. Aid agencies warn that continued supply disruptions could further strain food availability and worsen the humanitarian crisis in the coming months.

An Afghan vendor selling bread waits for customers at a bakery in the Fayzabad district of Badakhshan province on November 11, 2025. (AFP)

Afghanistan

Afghan traders say Taliban price controls and import disruptions threaten food stocks, which may run out by April. 

Afghan traders warn food could run out by April due to Taliban pressure

ISLAMABAD:&nbsp;Pakistan is <a href="https://www.pakistantv.com/article/527-afghan-taliban-killed-in-crossborder-strikes-under-operation-ghazb-lil-haq-pakistan-minister" target="_blank" style="color: rgb(0, 0, 0);">targeting</a> terrorist hideouts, not civilian areas,&nbsp;in Afghanistan, said&nbsp;Federal Minister for Information and Broadcasting Attaullah Tarar on Tuesday while speaking with foreign correspondents, reported the news agency, APP.&nbsp; The information minister said operations are based on accurate intelligence information. &ldquo;Pakistan is targeting only the infrastructure of terrorists and their support networks,&rdquo; he said. Tarar dismissed the figures presented by Afghanistan&#39;s interim government. He said the <a href="https://www.pakistantv.com/article/pakistan-debunks-fabricated-afghan-reports-of-strikes-on-nur-khan-airbase" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">claims of battlefield victories</a> against Pakistan are &ldquo;incorrect and merely propaganda.&rdquo; The minister denied reports from the Afghan Taliban regime and the United Nations Mission in Afghanistan alleging civilian casualties. He said the UN agency in Kabul relies entirely on information provided by the Taliban government. He said joint attacks by the Afghan Taliban and Fitna al-Khawarij (<a href="https://www.pakistantv.com/article/ttptaliban-nexus-exposed-as-attacks-and-retaliation-mirror-each-other" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Tehreek-i-Taliban Pakistan</a>) confirm a nexus between the interim Afghan government and multiple terrorist organizations operating from Afghan territory. &ldquo;All attacks by the Afghan Taliban regime have been responded to promptly and effectively,&rdquo; Tarar said. He said that Pakistan has accurately targeted terrorists and their aides, including Afghan Taliban military bases, without striking civilian areas.

Pakistan is targeting militant hideouts inside Afghanistan, not civilian areas, Federal Minister for Information and Broadcasting Attaullah Tarar said on March 9, 2026. (Radio Pakistan)

Attaullah Tarar said Pakistan is targeting terrorist hideouts inside Afghanistan, not civilian areas. He rejected Afghan Taliban claims of civilian casualties, saying strikes are precisely targeting terrorists and their support networks.

Pakistan targeting militant bases, not civilian areas, in Afghanistan: Information Minister

ISLAMABAD: Afghanistan now has only 190&nbsp;<a href="https://www.pakistantv.com/article/formal-justice-eludes-afghan-women-under-taliban-authorities-un" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">women journalists</a> working in the country, down from over 2,000 before the Taliban takeover in August 2021, which is less than 10%, the Free Speech Centre reported. In a post on Facebook, the <a href="https://www.pakistantv.com/article/afghanistan-media-crisis-grows-as-taliban-forces-close-private-tv-station-taliban-force-shutdown-of-private-tv-station-under-supreme-leaders-orders" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">press freedom</a> advocacy group wrote that since the interim government returned to power, authorities have imposed detentions, physical assaults, and severe limits on women&rsquo;s reporting. Many women journalists have been threatened or imprisoned, it said. Around 86% of <a href="https://www.pakistantv.com/article/un-general-assembly-president-highlights-gender-apartheid-in-afghanistan" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Afghan women</a> journalists have lost their jobs or cannot work freely. In roughly 20 provinces, no female journalists remain. Some reporters work anonymously or publish without bylines to avoid retaliation. Others rely on remote reporting for exile-based media organizations. The group also raised concerns about Afghan journalists living abroad amid recent conflicts involving <a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-10" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Iran and the United States</a>, citing detention risks. Despite the challenges, Afghan women journalists in exile continue reporting, amplifying voices silenced inside Afghanistan, the Free Speech Centre said.

Afghan journalists interview a woman for state-run Radio Television Afghanistan (RTA) during a ceremony to mark International Women's Day in Helmand province's Lashkar Gah on March 8, 2010. (AFP)

Approximately 86% of Afghan women journalists have lost their jobs, and around 20 provinces have no female reporters. Many work anonymously or remotely for exile-based media, the Free Speech Centre reported.

Less than 10% women journalists left working in Afghanistan since Taliban takeover: Advocacy group

ISLAMABAD: Pakistan&rsquo;s military carried out strikes on Monday&nbsp;targeting Afghan Taliban and Fitna al Khawarij (T<a href="https://www.pakistantv.com/article/ttptaliban-nexus-exposed-as-attacks-and-retaliation-mirror-each-other" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">ehreek-i-Taliban Pakistan</a>) positions along the Pakistan-Afghanistan border, and destroyed an ammunition depot at the Shaheen Base in&nbsp;<a href="https://www.pakistantv.com/article/over-70-militants-of-gul-bahadur-group-eliminated-in-strikes-security-officials" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Paktika</a>, Radio Pakistan reported, quoting security officials. The military also destroyed an Afghan Taliban post near Shawal Valley in South Waziristan, in northwestern Pakistan. The operations are part of Pakistan&#39;s Operation Ghazab lil-Haq, a campaign launched on Feb. 26 in response to repeated cross-border attacks from Afghanistan that have killed several Pakistani civilians. The operation aims to dismantle infrastructure in Afghanistan that is used to launch cross-border attacks into Pakistan. On Sunday, Pakistan&#39;s Information Minister <a href="https://www.pakistantv.com/article/pakistan-kills-583-taliban-combatants-as-border-operation-enters-day-ten" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Attaullah Tarar</a> said Pakistani forces had carried out sustained strikes on terrorist positions across Afghanistan as part of a coordinated response. In a single day, 242 Taliban checkposts were destroyed; 38 additional posts were captured and subsequently destroyed by Pakistani forces.

Pakistan military destroyed an Afghan Taliban post near Shawal valley in South Waziristan, in northwestern Pakistan on March 9, 2026. (Radio Pakistan)

Pakistan’s military destroyed an ammunition depot at Shaheen Base in Paktika, Afghanistan, targeting Taliban and TTP positions. The operation is part of Operation Ghazab lil Haq.

Pakistan military destroys Afghan Taliban ammunition depot in cross-border strikes

TEHRAN: Pakistan&rsquo;s Ambassador to Iran, Mudassir Tipu, has asked Pakistanis currently in Iran to immediately register themselves at the Pakistani Embassy, state-run Associated Press of Pakistan (APP) reported on Monday. According to a statement issued by the embassy,&nbsp;<a href="https://www.pakistantv.com/article/pakistani-fm-discusses-regional-tensions-with-uae-iranian-counterparts" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Ambassador Tipu</a>&nbsp;said that due to the ongoing issues In Iran, it is becoming increasingly difficult to find buses, and several other factors are also causing difficulties. Therefore, Pakistani citizens who wish to return to Pakistan are requested to promptly register themselves at the embassy, so that arrangements for their departure can be made without any further delay, it said. He particularly appealed to Pakistani nationals in Qom to fully cooperate with the embassy for their immediate return to Pakistan.

Foreign Affairs

An embassy statement said, ‘Pakistani citizens who wish to return to Pakistan are requested to promptly register themselves at the embassy with our assistance, so that arrangements for their departure can be made without any further delay.’

Pakistanis in Iran urged to register immediately at embassy in Tehran

HONG KONG: Stock markets plunged Monday as oil and gas prices soared on fears about supplies from the Middle East with the US-Israeli war against Iran continuing into a second week with no sign of letting up. Investors, already spooked by concerns over extended tech valuations and the huge spending on AI, ran for the hills as crude rocketed to its highest level since the Russian invasion of Ukraine in 2022. Fears grew that the Middle East conflict could last for some time after US President Donald Trump said only the &quot;unconditional surrender&quot; of Iran would end the war. He added at the weekend that the spike in prices was a &quot;small price to pay&quot; to eliminate Iran&#39;s nuclear threat, reiterating the White House&#39;s insistence that the rise is temporary. West Texas Intermediate and BrentBoth main contracts, which had surged more than a quarter last week, spiked as Iran carried out retaliatory strikes against crude-producing Gulf nations. West Texas Intermediate and Brent both jumped around 30% to hit peaks just short of $120 a barrel. European gas prices also soared 30% on Monday. Since the beginning of the war, WTI rose more than 75% and Brent more than 60% before easing on the G7 news. Emergency reservesHowever, the surge was pared as French officials confirmed a Financial Times story that finance ministers from the Group of Seven industrialised nations would discuss tapping emergency reserves to ease the supply strain. Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production, while the United Arab Emirates and Kuwait have started reducing output. Strait of Hormuz That came with maritime traffic in the Strait of Hormuz -- through which a fifth of global crude passes -- halted since the war began on Feb. 28. The prospect of high energy prices for a sustained period has fanned fears of a fresh spike in inflation that could hit the global economy while preventing central banks from cutting interest rates to support growth. With the prospect of the global economy taking a blow from the crisis, equity markets extended last week&#39;s losses, though they pared some of the early retreat. Seoul, which had been the best performer this year thanks to a tech rally, tumbled more than eight percent at one point before closing six percent down, while Tokyo shed more than five percent and Taipei fell more than four percent. Hong Kong, Shanghai, Sydney, Singapore, Manila, Bangkok, Mumbai, Jakarta and Wellington were also sharply lower. London, Paris and Frankfurt opened on the back foot. &quot;Stocks continue to face stiff headwinds, with markets in Europe and Asia, specifically Japan, more vulnerable in the short-term given that those are heavy energy importers, and with those markets having vastly outperformed the US year to date, until the Iran war begun,&quot; wrote Pepperstone&#39;s Michael Brown. &#39;Very small price to pay&#39;Futures for all three main indexes on Wall Street were down more than one percent, while the dollar jumped against its peers as traders sought out its safe haven status. The prospect of interest rates being kept elevated, or even raised to combat inflation, saw gold prices sink more than one percent to around $5,100 an ounce. &quot;The deeper shock is spreading across the production chain,&quot; said SPI Asset Management&#39;s Stephen Innes. &quot;Gulf producers are scaling back output because storage hubs are filling up and export flows are seizing. Qatar has halted liquefaction at key gas facilities, a move that will take weeks to reverse even if the conflict cools tomorrow. &quot;In other words, the market is not dealing with a headline shock. It deals with a physical disruption of oil molecules. &quot;Oil above $100 is not just a commodity rally. It becomes a tax on the global economy.&quot; However, Trump sought to offer reassurance that the spike in crude would not last long. &quot;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,&quot; he wrote on social media Sunday evening Washington time. &quot;ONLY FOOLS WOULD THINK DIFFERENTLY!&quot; Michael O&#39;Rourke at JonesTrading warned that the pain for investors could last for some time. &quot;The worst is yet to come in the stock market reaction&quot; he said. &quot;I would expect more of a risk-off mood until we get some tangible positive news.&quot; Compounding the downbeat mood was news Friday that the US economy unexpectedly lost jobs in February, while unemployment edged up. Another report also pointed to a drop in US retail sales. Key figures at around 0815 GMT&nbsp;West Texas Intermediate: UP 13.7 percent at $103.31 per barrel Brent North Sea Crude: UP 16.3 percent at $107.83 per barrel Seoul - Kospi: DOWN 6.0 percent at 5,251.87 (close) Tokyo - Nikkei 225: DOWN 5.2 percent at 52,728.72 (close) Hong Kong - Hang Seng Index: DOWN 1.4 percent at 25,408.46 (close) Shanghai - Composite: DOWN 0.7 percent at 4,096.60 (close) London - FTSE 100: DOWN 1.4% at 10,145.62 Euro/dollar: DOWN at $1.1560 from $1.1604 on Friday Pound/dollar: DOWN at $1.3343 from $1.3385 Dollar/yen: UP at 158.40 yen from 157.88 yen Euro/pound: DOWN at 86.66 pence from 86.67 pence New York - Dow: DOWN 1.3% at 47,501.55 (close)

Business

Investors, already spooked by concerns over extended tech valuations and the huge spending on AI, ran for the hills as crude rocketed to its highest level since the Russian invasion of Ukraine in 2022.

Trump says Iran war 'going to be ended soon' as US investigates Iran school strike

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Latest News

Trump says Iran war 'going to be ended soon' as US investigates Iran school strike

US designates Afghanistan as 'state sponsor of wrongful detention'

Pakistan Navy launches Operation Muhafiz-ul-Bahr to secure shipping routes

Pakistan announces austerity measures amid oil supply disruptions due to Mideast clashes

Afghan traders warn food could run out by April due to Taliban pressure