Morning Brew Daily Oil Prices Soar Past $100 & Workers Are Flocking to ‘AI Man Camps’
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Mar 9, 2026 Crude oil surges past $100 as Gulf producers curb output and shipping chokepoints raise global energy risks. A surprisingly weak jobs report shows widespread payroll losses and sparks questions for policy makers. Data-center builders recruit workers with flashy “man camps” offering high pay and amenities. A glossy photo shoot of junior bankers stirs controversy in finance circles.
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Scale Of Supply Loss Makes This Unprecedented
- About 20 million barrels per day (roughly 20% of global output) stopped flowing through the Strait of Hormuz, dwarfing past shocks.
- Analysts warn prices could reach $150 a barrel and call this an unprecedented modern logistics crisis.
Resilience Helps But Exposure Varies By Region
- Markets are more resilient than in the 1970s due to flexible trade, larger strategic reserves, and the U.S. becoming a net exporter.
- Still, Asia remains highly exposed and countries are already rationing fuel and power.
Diesel Spike Can Inflate Costs Across Economy
- Diesel prices surged sharply and recorded their largest single-day increase, which can act like a tax across the economy.
- Diesel powers trucks and farm equipment, so higher diesel costs can drive broad inflationary pressure.