Iran war sends oil price soaring as Khamenei son takes chargeMojtaba Khamenei is regarded as a conservative figure with ties to the Revolutionary Guards, the ideological arm of Iran's military. (Photo: AFP)TEHRAN — The Iran war sent oil prices soaring on Monday after Tehran marked the appointment of its new supreme leader with a new barrage of missiles targeting Israel and the Gulf energy industry. Since the start of the war, the benchmark WTI oil contract has risen more than 75% and Brent more than 60. Oil price spikesAs Iran retaliated against its oil-rich Gulf Arab neighbours, the benchmark price for a barrel of crude soared beyond $100 for the first time since Russia's invasion of Ukraine four years ago. Lebanon was drawn into the conflict last week when Hezbollah attacked Israel in response to the killing of the elder Khamenei.

Source: Bangkok Post March 09, 2026 12:42 UTC