G7 to discuss release of emergency oil reserves as price tops $100

Lauren Almeida

Lauren Almeida

G7 finance ministers are preparing to discuss the release of emergency oil reserves, according to reports, after the US-Israel war with Iran sent the price of crude above $100 (£75) for the first time since 2022.

The ministers will discuss the release of the reserves in a call coordinated by the International Energy Agency (IEA), according to a report from the Financial Times.

The emergency meeting will take place at 8.30am New York time to discuss the impact of the Iran war, the FT reported, citing unnamed people familiar with the matter.

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Key events

Summary of the day so far

  • Fresh missile and drone strikes by Israel and Iran reverberated across the Middle East as the war entered its 10th day. The Israeli military said on Monday it had begun a wide-scale wave of strikes” in Tehran, Isfahan and southern Iran after a man was killed in an airstrike fired at central Israel earlier. The Israeli military also said Monday that it had begun targeting Al-Qard Al-Hassan, a US-sanctioned financial organisation that Israel has accused of financing the Iran-backed Hezbollah, in the southern suburbs of Beirut.

  • Human Rights Watch (HRW) on Monday said the Israeli military unlawfully fired white phosphorus munitions in the town of Yohmor in southern Lebanon.
    The highly toxic white phosphorus can be used by militaries to obscure operations and is not listed a chemical weapon under the Chemical Weapons Convention (CWC), but use of it against humans in a civilian setting is considered a violation of Protocol III of the Convention on Certain Conventional Weapons (CCCW).

  • Unicef, a UN agency, estimates that at least 83 children have been killed and 254 wounded in Lebanon since the start of the conflict – during which time an estimated 700,000 people – including around 200,000 children – have been displaced from their homes.

  • Residents in Tehran are still reeling from “apocalyptic” scenes unfolding across their city after airstrikes on oil depots over the weekend filled the sky with black smoke and covered the streets in soot. “The situation is so frightening it’s hard to describe,” one resident told the Guardian. “Smoke has covered the entire city. I have severe shortness of breath and burning in my eyes and throat, and many others feel the same. But people still have to go outside because they have no choice. Many places reopened today, but closed again because it’s impossible to stay outdoors.”

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Lebanon parliament extends term for two years amidst US-Israeli war on Iran

The Lebanese parliament has voted to extend its term for two years as Israeli airstrikes continue in the south, according to the state-run National News Agency.

The vote was 76 in favour of the extension, 41 against and 41 abstentions, with the Associated Press reporting that Hezbollah’s 13-member bloc in parliament voted in favour as well.

The Israeli military issued a warning on Monday for residents of the southern suburbs of Beirut to heed earlier evacuation orders as it carried out an operation targeting Al-Qard Al-Hassan, the US-sanctioned financial organisation that Israel has accused of financing the Iran-backed Hezbollah.

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IDF begins ‘wide-scale’ wave of strikes on Iran

The Israeli military announced Monday that it had begun a “wide-scale wave of strikes against infrastructure of the Iranian terror regime” in across Tehran, Isfahan and southern Iran.

The announcement came shortly after a man was killed and several more injured in an airstrike fired toward central Israel. It is unclear who launched the attack.

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Unicef: At least 83 children killed in Lebanon since start of conflict

At least 83 children have been killed and 254 wounded in Lebanon since the Israeli military began targeting the country with airstrikes in response to missiles launched into northern Israel by the Iran-back Hezbollah, according to Unicef, a UN agency.

“On average, more than 10 children have been killed every day across Lebanon over the past week, with approximately 36 children injured each day,” Edouard Beigbeder, the Unicef regional director for the Middle East and North Africa, said in a statement.

Beigbeder estimated that since 2 March, 700,000 people – including around 200,000 children – have been displaced from their homes, “adding to the tens of thousands already uprooted from previous escalations”.

“Unicef calls on all parties to protect civilians and civilian infrastructure, including schools and shelters, and to uphold their obligations under international humanitarian law,” Beigbeder said. “Unicef urges immediate efforts to de-escalate the situation and prevent further harm to children.”

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Deepa Parent spoke to Tehran residents for the Guardian about the “apocalyptic” scenes in their city after a night of airstrikes on oil depots over the weekend filled the sky with black smoke and covered the streets in soot.

“The situation is so frightening it’s hard to describe,” one resident said. “Smoke has covered the entire city. I have severe shortness of breath and burning in my eyes and throat, and many others feel the same. But people still have to go outside because they have no choice. Many places reopened today, but closed again because it’s impossible to stay outdoors.”

Here’s a look at what they’re seeing:

Residents look on and take pictures as flames and smoke rise from an oil storage facility struck as attacks hit the city during the U.S.–Israeli military campaign in Tehran, Iran. Photograph: Arileza Sotakbar/AP

Tehran oil sites on fire as Iran exchanges strikes with Israel and US – video report

Flames and smoke rise from an oil storage facility struck as attacks hit the city during the U.S.–Israeli military campaign in Tehran, Iran. Photograph: Arileza Sotakbar/AP
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Appointing a new leader is the least of Iran’s troubles

Patrick Wintour

Patrick Wintour

The election of Mojtaba Khamenei as the new Iranian supreme leader, succeeding his assassinated father, represents a symbolic and real triumph for conservative continuity at a time when the regime is under unprecedented challenge.

It also raises questions about how the hereditary principle complies with a revolutionary ideology formed in 1979 that never envisaged the post of supreme leader being passed from father to son.

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A man was killed and several more were injured in an airstrike fired toward central Israel on Monday, the Israeli emergency services, Magen David Adom, said.

It is unclear who launched the attack. Several people who were injure sustained their injuries as they made their way to a shelter, Magen David Adom said, including a 78-year-old man with a head injury.

The man who was killed was about 40 years old, according to Magen David Adom. From that same location, another man, also about 40 years old, was rushed to a hospital in serious condition.

Further to the scene at a construction site in central Israel, MDA EMTs and paramedics pronounced the death of a man, approximately 40 years old, and evacuated to Sheba Tel Hashomer Hospital a man, approximately 40 years old, in serious and unstable condition. pic.twitter.com/cmKg8rkk4u

— Magen David Adom (@Mdais) March 9, 2026

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Two people were injured in two separate locations in Abu Dhabi in the United Arab Emirates after they were hit by debris from an intercepted airstrike, authorities posted on X on Monday.

The first person, a Jordanian national, suffered a minor injury while the second person, an Egyptian national, suffered a moderate one, the Abu Dhabi media office said.

تعاملت الجهات المختصة في إمارة أبوظبي مع حادثين نتيجة سقوط شظايا على موقعين، عقب الاعتراض الناجح من قبل الدفاعات الجوية. أسفر الحادث الأول عن تعرض شخص من الجنسية الأردنية لإصابة بسيطة، وأسفر الحادث الثاني عن تعرض شخص من الجنسية المصرية لإصابة متوسطة.

ونهيب بالجمهور استقاء…

— مكتب أبوظبي الإعلامي (@ADMediaOffice) March 9, 2026

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Human Rights Watch accuses Israel of using white phosphorus weapons in Lebanon

Human Rights Watch (HRW) on Monday said the Israeli military unlawfully fired white phosphorus munitions in the town of Yohmor in southern Lebanon.

The international NGO said its researchers made this determination after verifying and geolocating seven images showing airburst white phosphorus munitions deployed over a residential part of the town on 03 March.

White phosphorus is highly toxic, creating clouds of phosphorus pentoxide that then react with the moisture in the air – or in people’s lungs – to form phosphoric acid. It reacts violently with oxygen, meaning it can ignite and set fire to certain targets once released.

White phosphorus can be used by militaries to obscure operations and is not listed a chemical weapon under the Chemical Weapons Convention (CWC), but use of it against humans in a civilian setting is considered a violation of Protocol III of the Convention on Certain Conventional Weapons (CCCW).

“The Israeli military’s unlawful use of white phosphorus over residential areas is extremely alarming and will have dire consequences for civilians,” Ramzi Kaiss, Lebanon researcher at Human Rights Watch, said in a statement.

HRW has previously accused the IDF of using white phosphorus munitions in Gaza and Lebanon, which it denied. The IDF did not immediately respond to the Guardian on the HRW’s latest allegations.

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G7 to discuss release of emergency oil reserves as price tops $100

Lauren Almeida

Lauren Almeida

G7 finance ministers are preparing to discuss the release of emergency oil reserves, according to reports, after the US-Israel war with Iran sent the price of crude above $100 (£75) for the first time since 2022.

The ministers will discuss the release of the reserves in a call coordinated by the International Energy Agency (IEA), according to a report from the Financial Times.

The emergency meeting will take place at 8.30am New York time to discuss the impact of the Iran war, the FT reported, citing unnamed people familiar with the matter.

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Luca Ittimani

Luca Ittimani

The surge in oil prices has triggered a stark sell-off across some of the world’s leading stock markets, raising concerns that the continuing US-Israeli war on Israel could set the stage for a global economic shock.

The Middle East conflict has sparked an energy supply crisis that could risk driving up inflation and interest rates, according to economists, who believe growth is set to weaken while prices rise. Fears of stagflation – where economic activity stagnates, but inflation increases – loom large.

Here’s what to know:

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The Israeli military issued a new warning in Lebanon, calling for residents of the southern suburbs of Beirut to heed earlier evacuation orders.

Avichay Adraee, a spokesman for the Israel Defense Forces, posted on social media that the IDF will act “forcefully” against terrorist infrastructure belonging to Al-Qard al-Hassan in “the coming hours”.

Al-Qard Al-Hassan is a US-sanctioned financial organisation that Israel has accused of financing the Iran-backed Hezbollah. Hundreds of thousands of Lebanese bank with al-Qard al-Hassan, which became popular particularly in areas where Hezbollah operates following a 2019 banking crisis that saw commercial banks freeze accounts.

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Here are some of the latest images coming out of Tehran:

The coffin of Mehdi Hossein, a civilian killed in a U.S.-Israeli strike, is carried for burial at Behesht-e Zahra cemetery in Tehran, Iran on 09 March 2026. Photograph: Vahid Salemi/AP
People attend a funeral ceremony for victims of Israeli and U.S. strikes in Tehran, Iran on 09 March 2026. Photograph: Majid Asgaripour/Reuters
People attend a funeral ceremony for victims of Israeli and U.S. strikes in Tehran, Iran on 09 March 2026. Photograph: Majid Asgaripour/Reuters
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Interim summary

In case you’re just tuning in to our live coverage, here’s a snapshot of the latest developments in the US-Israeli war on Iran.

  • Fresh missile and drone strikes by Israel and Iran reverberated across the Middle East as the war entered its 10th day. The Israeli military said on Monday it had begun a wave of attacks in central Iran and had struck Hezbollah infrastructure in Beirut.

A man removes power cables in front of a building destroyed by an Israeli airstrike in Dahiyeh, Beirut’s southern suburbs, on Sunday. Photograph: Hussein Malla/AP
  • Iran and its proxies appeared to have launched attacks across the region. Those included reports of strikes targeting a US diplomatic facility near Baghdad’s international airport but being intercepted, a drone interception east of Saudi Arabia’s northern Jawf region, and thick smoke seen rising from the direction of the Bapco oil refinery in Bahrain.

  • The US military reported a seventh American had died from wounds sustained during Iran’s initial counterattack. The Israeli military said two of its soldiers had been killed in southern Lebanon. The US-Israeli attacks have killed at least 1,332 Iranian civilians and wounded thousands, according to Iran’s UN ambassador.
    With agencies

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Turkey plans to deploy six F-16 fighter jets to northern Cyprus on Monday to bolster the defences of the Turkish community there, broadcaster NTV said, citing a civil aviation official from the breakaway Turkish Republic of Northern Cyprus.

On Saturday a Turkish defence ministry source said Turkey was considering the deployment of F-16 aircraft to Cyprus, among other steps being taken to ensure the security of the Turkish Cypriot state as conflict spreads in the region, Reuters reported.

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Bahrain’s Bapco declares force majeure after oil refinery attack

Bahrain’s state-owned energy company Bapco Energies has declared force majeure on its group operations after Iran attacked the country’s only oil refinery, news reports are saying.

A statement from the company said it “hereby serves notice of force majeure on its group operations which have been affected by the ongoing regional conflict in the Middle East and the recent attack on its refinery complex”.

Last week Qatar – the Gulf’s biggest liquefied natural gas producer – suspended activity at its facilities on Monday and declared force majeure on gas exports on Wednesday, freeing it from contractual obligations to its customers.

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