Reuters World News - Iran's new hardline supreme leader and oil price surge

Episode Date: March 9, 2026

The late Ayatollah’s hardline son, Mojtaba Khamenei, is Iran’s new supreme leader. It’s a choice which could lead to an escalation with Washington. The Iran war drives oil prices above $100 a barrel. Gas prices soar too, after Qatar stops LNG exports. Republican voters say they stand by Trump’s war for now, but they’ve got a red line: American boots on the ground. And campaigners urge Australia to give the Iranian women’s soccer team refuge. Listen to the Morning Bid podcast ⁠⁠here⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, I'm Kim Vinal in Wanganui, New Zealand. It's Monday, March 9th. Today, Iran appoints Khameney's hardline son as the new supreme leader. Oil surges to over $100 a barrel as the market is gripped by war fears. And campaigners urge Australia to give the Iranian women's soccer team refuge. This is Reuters' World News, bringing you. everything you need to know from the front lines in 10 minutes, seven days a week. In Tehran, supporters of Iran's new supreme leader join the call to prayer and celebrate the appointment of their new Ayatollah.

Iran's Assembly of Experts, a group of decision-making clerics, have officially named Moshtaba Hamene, the son of the late Ali Hamanei, as successor and the Iranian. and Revolutionary Guard has sworn loyalty to him. The move gives Moshtaba, who is seen as even more of a hardliner than his father, the final say in all matters of state. The 56-year-old, whose wife was killed early in the U.S. Israeli strikes, comes to the role with an immediate target on his back.

The U.S. Israeli war on Iran is now in its second week, and U.S. President Donald Trump had warned that, if Washington did not get a say in the new Ayatollah, then whoever took the job would not, quote, last long. Reuters Parisa Hafezi covers Iran and says this appointment signals the Islamic Republic is preparing for a prolonged confrontation. Analysts expect his leadership style to closely resemble and in some areas potentially harden the approach of his father, Ali Khomeini. By selecting Moshaba, Iran's clerical leadership chose confrontation over compromise. And it shows that the Islamic Republic will be on a deeper collision course with Washington. And it signals that there will be little room for compromise.

Mostaba is expected to reject concessions to Washington, whether on Iran's nuclear program or its missile program. He might also improve and strengthen ties between Iran and US rivals, China and Russia. Parisa says Mosh Tabar has been working behind the scenes with his father for decades and was already one of the most powerful people in the country, despite not holding a formal government post. She says while there have been no anti-government protests since the war began, when it ends, the system Moshtaba Khameh overseas could face revived unrest, with the bloody crackdown on protests earlier this year still fresh in people's minds.

The system that Moshtab of elite faces growing public anger over various reasons, from economy to restrictions on freedoms, and still people are very angry over their bloody suppression of protests in January. Also, his elevation could fuel anger among Iranians who are already deeply frustrated with the political system. In an interview with the Times of Israel, after the new Supreme Leader was named, U.S. President Donald Trump declined to respond, saying only, we'll see what happens, according to the newspaper. In Tehran, a witness driving past a fuel depot hit by a strike, films dystopian-like scenes. Huge plumes of smoke rise high into the air, lit up by massive fires burning below, turning the night sky, orange. Reuters was able to verify the location, but not the date of the video.

But Israel's military confirmed it struck a number of fuel storage facilities in the Iranian capital on Sunday. The ongoing war has sent the price of oil and natural gas skyrocketing to multi-year highs. over $100 a barrel for oil. Here's Mike Dolan from our sister Markets podcast MorningBid with more. Good morning. It's huge surge in oil prices this morning above $100 per barrel. This is the first time we've been at this level since after the Ukraine invasion in 2022. And it's one of the biggest one-day jumps and crew prices ever.

So this is going to, by any definition, be an oil price shock. President Trump thinks this is a price worth paying. So he said last night, I'm not sure U.S. consumers or businesses would necessarily agree with that at this point, but they are going to have to pay an awful lot more for gas at the pump, which is now on average about $3.50, which is more than 50 cents above where it was only a couple of weeks ago. And longer term businesses trying to locate three, six months energy prices are going to pay more as well. The trigger for the latest move appears to have been Iran's decision to appoint the son of Ali Khamenei as a new supreme leader which suggests a very little chance that they will back down or that the conflict will end anytime soon. Thanks, Mike. You can catch Morningbid wherever you get your podcasts.

In terms of liquefied natural gas, the sudden stoppage of LNG exports from Qatar, the world's second largest exporter last year, has sent natural gas prices. is soaring. It's prompted panicked buyers to seek out replacement cargoes. But as our LNG reporter Curtis Williams says, there's a capacity issue. The problem is that there isn't a lot of spare capacity globally. There isn't a lot of spare capacity in the US, which is, as you know, the largest exporter of liquidified natural gas in the world. And even though the US is exporting about 19 billion cubic feet compared to Qatar's 10 billion cubic feet per day of natural gas, you're still unable to make up that shortfall because US plants are running basically at capacity.

The US military says a seventh American has died, in this case from wounds sustained a week ago during the initial Iranian counterattack. The civilian death toll in Iran, meanwhile, stands at more than 1,300. That's according to Iran's UN ambassador. And in Lebanon, almost 400 people have been killed, according to the country's health ministry, in Israeli attacks. As we reported yesterday, an Israeli drone hit a hotel in Beirut early on Sunday. It's the first time a strikers hit within the city limits of Lebanon's capital.

Khalil Abu Mohammed standing amongst bloody blankets on the ground says his children were injured and are now in hospital awaiting surgery. Israel says it was targeting key commanders of Iran's elite Kuds Force of the Revolutionary Guards, but did not name them. When it comes to public opinion on Iran, Reuters reached out to a group of 20 Americans who voted for Trump in 2024, who we've stayed in touch with to gauge their opinions on his presidency. They are largely standing by the president and his war, at least for now.

But some say there's a red line, a large deployment of U.S. ground troops in Iran. Here's what Loretta Torres, a 38-year-old mother of three in Houston, Texas, had to say. I hope we don't stay over there for years and months and months and years like we did in Afghanistan because I know they were there for a long time and there. was really no timeline of when they were going to come back home. A synagogue in Leish in Belgium has been damaged in an explosion this morning. That's according to Belgian broadcaster VRT. No injuries are reported and the cause of the explosion is unknown.

Stay across Reuters.com or the Reuters app for developments. Iranian expats in Australia chanting, Save Our Girls, as the Iranian women saw, soccer team bus drives past them, leaving their final game at the Asian Cup in Queensland. They lost 2-0 to the Philippines on Sunday. Ahead of the game, they sang and saluted their national anthem. A change from six days earlier when they remained silent ahead of a match. That prompted an Iranian state TV anchor to label them wartime traitors.

Human rights campaigners have urged the Australian government to allow them to stay, sparking concerns that be coerced to sing by their government minders and fearing for their safety if they go home. For more on any of the stories from today, check out Reuters.com or the Reuters app. Don't forget to follow us on your favourite podcast player. If you're listening on a smart speaker, just ask for the latest news from Reuters seven days a week. We'll be back tomorrow with our daily headline show.