Bloomberg Daybreak: Europe Edition Oil Comes Close To $120, Iran War Market Selloff, Khamenei’s Son New Leader
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Mar 9, 2026 Oil prices surge as major Middle East producers cut output and the Strait of Hormuz stays effectively closed. Global markets reel with equities and bonds selling off and the dollar strengthening. Iran names Majtaba Khamenei a new supreme leader amid talk of US special forces and potential escalation. UK and EU leaders weigh energy relief as higher fuel costs ripple through industry and politics.
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Energy Shock Amplifies Market Volatility And Inflation Risks
- The oil shock triggered a global market selloff with stocks and bond yields falling while the dollar strengthened.
- Rising crude fuelled inflation fears and reinforced expectations the Federal Reserve will keep rates on hold longer.
Khamenei Succession Signals Continued Hardline Policy
- Iran's assembly of experts named Majtaba Khamenei as supreme leader, marking the first generational succession since 1979.
- The IRGC pledged obedience and analysts say he will likely continue his father's hardline approach.
Consider Seizing Uranium As Military Option
- The U.S. is considering deploying special forces to seize Iran's near-bomb-grade uranium amid concerns its location hasn't been verified.
- President Trump said seizing it "would be a great thing" and left the option open for later action.