{"id":644668,"date":"2026-03-10T03:43:22","date_gmt":"2026-03-10T03:43:22","guid":{"rendered":"https:\/\/www.europesays.com\/us\/644668\/"},"modified":"2026-03-10T03:43:22","modified_gmt":"2026-03-10T03:43:22","slug":"oil-price-over-100-markets-in-freefall-and-irans-new-leader-is-trumps-worst-case-scenario","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/644668\/","title":{"rendered":"Oil price over $100, markets in freefall, and Iran&#8217;s new leader is Trump&#8217;s &#8216;worst case&#8217; scenario"},"content":{"rendered":"<p><strong>Global stock markets in free fall this morning<\/strong><\/p>\n<p><strong>S&amp;P 500 futures<\/strong> were down over 1% before the open in New York as the price of oil went over $100 per barrel. The index fell 1.33% in its last session. Asian markets were a disaster: <strong>Japan\u2019s Nikkei 225<\/strong> fell 5.2%, <strong>South Korea\u2019s KOSPI<\/strong> fell 5.96%. Like toppling dominoes, the <strong>U.K.\u2019s FTSE 100<\/strong> was down 1.4% in early trading and the <strong>Europe Stoxx 600<\/strong> sank 1.85%. The <strong>VIX<\/strong> \u201cfear index\u201d (volatility) is through the roof.<\/p>\n<p><img data-cy=\"article-image\" alt=\"\" loading=\"lazy\" width=\"1024\" height=\"656\" decoding=\"async\" data-nimg=\"1\" class=\"transition-opacity duration-300 lazyload wp-image-4435679 not-prose w-full\" style=\"color:transparent;background-size:cover;background-position:50% 50%;background-repeat:no-repeat;background-image:url(&quot;data:image\/svg+xml;charset=utf-8,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 1024 656'%3E%3Cfilter id='b' color-interpolation-filters='sRGB'%3E%3CfeGaussianBlur stdDeviation='20'\/%3E%3CfeColorMatrix values='1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 100 -1' result='s'\/%3E%3CfeFlood x='0' y='0' width='100%25' height='100%25'\/%3E%3CfeComposite operator='out' in='s'\/%3E%3CfeComposite in2='SourceGraphic'\/%3E%3CfeGaussianBlur stdDeviation='20'\/%3E%3C\/filter%3E%3Cimage width='100%25' height='100%25' x='0' y='0' preserveAspectRatio='none' style='filter: url(%23b);' href='data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR4nGNgYAAAAAMAASsJTYQAAAAASUVORK5CYII='\/%3E%3C\/svg%3E&quot;)\"   src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-09-at-090303.png\"\/><\/p>\n<p><strong>TOP STORIES<\/strong><\/p>\n<p><strong>IRAN<\/strong><\/p>\n<p><strong>\u2018The doomsday some oil analysts believed could never happen was coming to pass\u2019<\/strong><\/p>\n<p><strong>It\u2019s day 10 of the war with Iran.<\/strong> The price of oil briefly hit $119 per barrel this morning, and stock markets fell sharply around the world as it became clear that the war would become worse before it got better:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Iran appointed Mojtaba Khamenei, the son of its recently killed leader,<\/strong> <a aria-label=\"Go to https:\/\/fortune.com\/2026\/03\/08\/iran-new-supreme-leader-mojtaba-khamenei-son-ayatollah-ali\/\" href=\"https:\/\/fortune.com\/2026\/03\/08\/iran-new-supreme-leader-mojtaba-khamenei-son-ayatollah-ali\/\" rel=\"nofollow noopener\" target=\"_blank\">as its new supreme leader<\/a>. He\u2019s a hard-liner who will likely seek revenge for the death of his father.<\/li>\n<\/ul>\n<p><strong>Finance ministers from the G7 are set to meet at 8:30 a.m.<\/strong> New York time to discuss releasing reserves held by the International Energy Agency, <a aria-label=\"Go to https:\/\/www.ft.com\/content\/e1141f96-db3e-41ef-b978-0131e91f1d82\" href=\"https:\/\/www.ft.com\/content\/e1141f96-db3e-41ef-b978-0131e91f1d82\" rel=\"nofollow noopener\" target=\"_blank\">according to the <\/a><a aria-label=\"Go to https:\/\/www.ft.com\/content\/e1141f96-db3e-41ef-b978-0131e91f1d82\" href=\"https:\/\/www.ft.com\/content\/e1141f96-db3e-41ef-b978-0131e91f1d82\" rel=\"nofollow noopener\" target=\"_blank\">Financial Times<\/a>. There\u2019s only one problem with that: They have only a one-month supply.\u00a0<\/p>\n<p><strong>President Trump told people not to worry<\/strong>. \u201cShort 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!\u201d <a aria-label=\"Go to https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116196014942465383\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116196014942465383\" rel=\"nofollow noopener\" target=\"_blank\">he said on social media<\/a>.<\/p>\n<p><strong>This is what Trump called his \u2018worst case\u2019 scenario<\/strong><\/p>\n<p>Fortune\u2019s Jason Ma reported that, <a aria-label=\"Go to https:\/\/fortune.com\/2026\/03\/08\/oil-prices-100-barrel-dow-futures-stock-market-today-iran-war-special-forces-mission\/\" href=\"https:\/\/fortune.com\/2026\/03\/08\/oil-prices-100-barrel-dow-futures-stock-market-today-iran-war-special-forces-mission\/\" rel=\"nofollow noopener\" target=\"_blank\">when asked in the Oval Office last week<\/a> for the worst-case scenario in Iran, Trump replied, \u201cI guess the worst case would be we do this and then somebody takes over who\u2019s as bad as the previous person, right? That could happen.\u201d That is exactly where we are right now.<\/p>\n<p><strong>Meanwhile in Moscow:<\/strong> The war is having the effect of <a aria-label=\"Go to https:\/\/fortune.com\/2026\/03\/08\/russia-intelligence-iran-us-military-aircraft-warships-trump-hegseth\/\" href=\"https:\/\/fortune.com\/2026\/03\/08\/russia-intelligence-iran-us-military-aircraft-warships-trump-hegseth\/\" rel=\"nofollow noopener\" target=\"_blank\">helping Russia in its conflict with Ukraine<\/a>, even though Russia has been accused of supplying intel to Iran that might endanger U.S. troops. High oil prices essentially rescue Russia\u2019s ailing oil export industry, providing Moscow with fresh foreign currency <a aria-label=\"Go to https:\/\/time.com\/7383068\/iran-war-russia-oil\/\" href=\"https:\/\/time.com\/7383068\/iran-war-russia-oil\/\" rel=\"nofollow noopener\" target=\"_blank\">to fund its operations<\/a> in Eastern Europe. The White House recently gave India a sanctions waiver allowing it to buy more oil from Russia. \u201cThis waiver constitutes an inexplicable act of material benefit to the enemy,\u201d <a aria-label=\"Go to https:\/\/www.cnbc.com\/2026\/03\/09\/bessent-russian-oil-sales-india.html\" href=\"https:\/\/www.cnbc.com\/2026\/03\/09\/bessent-russian-oil-sales-india.html\" rel=\"nofollow noopener\" target=\"_blank\">according to a letter<\/a> sent to U.S. Treasury Secretary Scott Bessent from Democrats.<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>On Saturday, Trump promised to relentlessly pursue the war:<\/strong> \u201cToday Iran will be hit very hard! Under serious consideration for complete destruction and certain death, because of Iran\u2019s bad behavior, are areas and groups of people that were not considered for targeting up until this moment in time,\u201d <a aria-label=\"Go to https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116187586876366061\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116187586876366061\" rel=\"nofollow noopener\" target=\"_blank\">he said<\/a>.<\/li>\n<\/ul>\n<p><strong>CHART OF THE DAY<\/strong><\/p>\n<p><strong>Oil, obviously<\/strong><\/p>\n<p><img data-cy=\"article-image\" alt=\"\" loading=\"lazy\" width=\"1024\" height=\"750\" decoding=\"async\" data-nimg=\"1\" class=\"transition-opacity duration-300 lazyload wp-image-4435664 not-prose w-full\" style=\"color:transparent;background-size:cover;background-position:50% 50%;background-repeat:no-repeat;background-image:url(&quot;data:image\/svg+xml;charset=utf-8,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 1024 750'%3E%3Cfilter id='b' color-interpolation-filters='sRGB'%3E%3CfeGaussianBlur stdDeviation='20'\/%3E%3CfeColorMatrix values='1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 100 -1' result='s'\/%3E%3CfeFlood x='0' y='0' width='100%25' height='100%25'\/%3E%3CfeComposite operator='out' in='s'\/%3E%3CfeComposite in2='SourceGraphic'\/%3E%3CfeGaussianBlur stdDeviation='20'\/%3E%3C\/filter%3E%3Cimage width='100%25' height='100%25' x='0' y='0' preserveAspectRatio='none' style='filter: url(%23b);' href='data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR4nGNgYAAAAAMAASsJTYQAAAAASUVORK5CYII='\/%3E%3C\/svg%3E&quot;)\"   src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/Screenshot-2026-03-09-at-100710.png\"\/><\/p>\n<p>Oil began trading above $100 a barrel today, according to data from TradingEconomics.com.<\/p>\n<p><strong>IN THE CRYSTAL BALL\u2026<\/strong><\/p>\n<p><strong>Rising prices, falling stocks could hurt Republicans in the midterms<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>\u201cWe believe that while the conflict may support the dollar in the near term, the medium-term outlook could look far less favorable. The conflict has already pushed gasoline, diesel, and jet fuel prices higher, worsening an already delicate cost-of-living backdrop. That dynamic could hurt Republicans in May\u2019s midterm elections and reignite a political risk premium that weighs on the greenback,\u201d according to Antonio Ruggiero, FX &amp; macro strategist at Convera.<\/li>\n<li>\u201cIn terms of financial markets, the higher oil prices go, the more the short end of interest rate curves are repriced higher and the greater pressure builds at the long end of the bond market. A much bigger unwind remains the risk for global equity markets as higher energy prices dampen growth prospects, while higher longer-dated interest rates sap the net present value earnings of the growth stocks,\u201d ING\u2019s Chris Turner said.<\/li>\n<\/ul>\n<p><strong>NUMBER OF THE DAY<\/strong><\/p>\n<p>18%<\/p>\n<p>The rise in the price of coffee in the U.S. since January 2025, according to UBS\u2019s Paul Donovan. \u201cU.S. gasoline prices on Sunday were 23% above this year\u2019s lows. The price level is not likely to disrupt GDP growth (it is below mid-2024 levels), but it will change inflation perceptions. Several high-frequency purchases have risen significantly in price since January 2025 (beef +15%, coffee +18%), and consumers tend to remember such increases. Perceptions create the U.S. affordability crisis,\u201d he told clients this morning.<\/p>\n<p><strong>QUICK HITS<\/strong><\/p>\n<p><strong>THE FRONT PAGES TODAY<\/strong><\/p>\n<p><a aria-label=\"Go to https:\/\/www.cnbc.com\/2026\/03\/09\/oil-prices-iran-war-middle-east-us-israel-strait-of-hormuz.html\" href=\"https:\/\/www.cnbc.com\/2026\/03\/09\/oil-prices-iran-war-middle-east-us-israel-strait-of-hormuz.html\" rel=\"nofollow noopener\" target=\"_blank\">\u2018Sky is the limit\u2019: Analysts warn oil prices could surge further<\/a> \u2013 CNBC<\/p>\n<p><a aria-label=\"Go to https:\/\/www.bbc.co.uk\/news\/articles\/c78xxg05w0zo\" href=\"https:\/\/www.bbc.co.uk\/news\/articles\/c78xxg05w0zo\" rel=\"nofollow noopener\" target=\"_blank\">Who is Mojtaba Khamenei, Iran\u2019s new supreme leader?<\/a> \u2013 BBC<\/p>\n<p><a aria-label=\"Go to https:\/\/www.axios.com\/2026\/03\/08\/us-dismayed-israel-iran-fuel-strikes\" href=\"https:\/\/www.axios.com\/2026\/03\/08\/us-dismayed-israel-iran-fuel-strikes\" rel=\"nofollow noopener\" target=\"_blank\">Scoop: U.S. dismayed by Israel\u2019s Iran fuel strikes, sources say<\/a> \u2013 Axios<\/p>\n<p><a aria-label=\"Go to https:\/\/www.nytimes.com\/2026\/03\/09\/opinion\/diagnosis-delusional-infestation-bugs.html\" href=\"https:\/\/www.nytimes.com\/2026\/03\/09\/opinion\/diagnosis-delusional-infestation-bugs.html\" rel=\"nofollow noopener\" target=\"_blank\">They feel bugs inside them. Doctors don\u2019t know why<\/a> \u2013 The New York Times<\/p>\n<p><strong>ONE MORE THING<\/strong><\/p>\n<p><strong>Head of Citi\u2019s \u2018internal hit squad\u2019 has left<\/strong><\/p>\n<p>Yamini Patel, Citi\u2019s head of investigations for the U.K., Europe, and Russia, <a aria-label=\"Go to https:\/\/www.efinancialcareers.co.uk\/news\/citi-parted-company-with-the-nice-woman-leading-its-unpopular-internal-hit-squad\" href=\"https:\/\/www.efinancialcareers.co.uk\/news\/citi-parted-company-with-the-nice-woman-leading-its-unpopular-internal-hit-squad\" rel=\"nofollow noopener\" target=\"_blank\">has left the bank<\/a>, according to Sarah Butcher of eFinancial Careers. Patel ran Citi Security and Investigative Services, \u201ctasked with tackling wrongdoing at Citi,\u201d Butcher says. \u201cCiti\u2019s CSIS operates as HR\u2019s internal hit squad, highly trained to protect the firm at employees\u2019 expense,\u201d Citi MD Ardith Lindsey said. Although CSIS is internally unpopular because it has used employees\u2019 testimony against them in court, colleagues say Patel \u201cwas both well-liked at Citi and very good at her job.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Global stock markets in free fall this morning S&amp;P 500 futures were down over 1% before the open&hellip;\n","protected":false},"author":3,"featured_media":644669,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[83,135,50,11411,103],"class_list":{"0":"post-644668","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-iran","9":"tag-markets","10":"tag-news","11":"tag-oil-prices","12":"tag-world"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116202819268267444","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/644668","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=644668"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/644668\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/644669"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=644668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=644668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=644668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}