Pete Hegseth guarantees Iran will 'surrender' as oil prices soar past $100 a barrel driven by war: Live updates

Pete Hegseth guarantees Iran will 'surrender' as oil prices soar past $100 a barrel driven by war: Live updates
By: dailymail Posted On: March 09, 2026 View: 52


US Defense Secretary Pete Hegseth last night guaranteed Iran will 'surrender' as oil prices soared past $100 a barrel for the first time in four years as the war causes global markets to rattle.

Hegseth sat down for an exclusive interview with CBS News' '60 Minutes,' where he was asked what the president meant by his demand for an 'unconditional surrender.'

'It means we’re fighting to win. It means we set the terms,' the Defense Secretary replied.

Meanwhile. the price of a barrel of oil has rocketed to above $100 for the first time in years, as the war in the Middle East spins the markets into chaos.

An emergency meeting of the G7 has been called for today, where crisis options including the release of oil reserves will be discussed.

And Iranian clerics announced Mojtaba Khamenei, the second eldest son of former leader Ayatollah Khamenei, as Iran's new Supreme Leader.

Oil prices surge and Hegseth guarantees a 'surrender': Key developments in Iran war

Good morning, if you're just joining us we are continuing our live coverage of the US-Israel war with Iran as the conflict enters a new week.

If you're just joining us, here's what you need to know:

  • Oil prices rise have surged more than $100 a barrel for first time in four years as Asian markets slid at the start of trading
  • Pete Hegseth, the US Defense Secretary, last night guaranteed Iran will 'surrender' and President Donald Trump will set the terms of their defeat
  • Mojtaba Khamenei, the 56-year-old son of Iran's late supreme leader Ali Khamenei, was selected by the country's Assembly of Experts to succeed his father
  • Human Rights Watch accused Israel of "unlawfully" using white phosphorus over residential parts of the southern Lebanese town of Yohmor last week
  • Bahrain's health ministry said that an Iranian drone attack on the island of Sitra overnight wounded 32 civilians, all of them Bahraini citizens
  • Several explosions have been heard in the Qatari capital Doha as Qatar, Saudi Arabia, the United Arab Emirates and Kuwait all reported new attacks
  • The US military has confirmed a seventh service member has killed following an Iranian attack in Saudi Arabia

China: We oppose threats against Mojtaba Khamenei

China has declared it opposes any attempts to target Mojtaba Khamenei after he was named Iran's new Supreme Leader to replace his father.

China's foreign ministry spokesman Guo Jiakun told reporters today that Iran's decision to appoint the younger Khamenei was 'based on its constitution'.

'China opposes interference in other countries' internal affairs under any pretext, and Iran's sovereignty, security, and territorial integrity should be respected,' he said when asked about the threats against the new leader.

Israel's military has threatened to target any successor to former supreme leader Ali Khamenei, who was killed over a week ago in a first wave of US and Israeli strikes on Iran.

Donald Trump had previously dismissed Mojtaba Khamenei as a 'lightweight', and insisted again Sunday on ABC News before the announcement that: 'If he doesn't get approval from us he's not going to last long.'

What we know about Mojtaba Khamenei - Iran's new Supreme Leader

Mandatory Credit: Photo by Xinhua/Shutterstock (16736726a) This undated file photo shows Mojtaba Khamenei, Iran's new supreme leader. Mojtaba Khamenei, son of Ali Khamenei, was selected as Iran's new supreme leader, Iran's Assembly of Experts announced on Sunday. Iran Tehran New Supreme Leader - 09 Mar 2026

Mojtaba Khamenei has been named as Iran's next supreme leader, Iranian state TV said on Sunday.

The 56-year-old is the second eldest son of Ayatollah Ali Khamenei, whose death was announced on February 28 after he was killed in joint Israeli-US missile strikes.

Mojtaba had long been considered a contender for the post despite never being elected or appointed to a government position.

As Supreme Leader he will now be the commander-in-chief of the regime's armed forces and appoint the leaders of all military branches, as well as choosing the head of the judiciary.

He is expected to continue Ali Khamenei's hardline policies and is a supporter of Iran acquiring a nuclear weapon, unlike his father who had issued a fatwa against their acquisition and use.

Mojtaba was born in Mashhad in 1969 and served in the Iran-Iraq war, later becoming one of the wealthiest people in Iran.

He has huge wealth stored in banks in the United Arab Emirates, Syria, Venezuela, and Africa, along with around $300 million in gold and diamonds, and Swiss bank accounts, according to the Arab-language Alquds Alarabi newspaper.

G7 to discuss release of emergency oil reserves

G7 finance ministers will today discuss a joint release of oil from emergency reserves co-ordinated by the International Energy Agency, it has been reported.

Three G7 countries, including the US, have so far expressed support for the idea, according to the Financial Times.

A senior Japanese parliament member said on Sunday that the government instructed a national oil reserve storage site to prepare for a possible release of crude.

Japan relies on the Middle East for around 95% of its crude, with roughly 70% shipped through the Strait of Hormuz.

The spike in oil prices weighed on stock markets in Asia, with Japan's Nikkei down 5.8% and import-reliant South Korea falling 6.5%.

Bahrain’s state oil company declares force majeure after Iran strikes refinery

Uncleared grabs: Bahrain Fire breaks out at Bahrain oil refinery as Iran targets energy infrastructure across regionFireball explosions have rocked an oil facility as Iranian drones target key energy production infrastructure.Bahrain's government said this afternoon that a facility in its oil infrastructure area has been attacked. It was later revealed that the attack damaged a unit of BAPCO Energies' refinery.A government spokesperson said: 'One facility in Maameer was targeted, and the relevant authorities are handling the incident,' the statement said.Footage from the region showed at least two large towers of smoke rising through the air.

Bahrain's state-owned oil company Bapco has declared force majeure on its shipments after Iran struck the kingdom's only oil refinery causing a fire to break out.

The sprawling Al Ma'ameer complex was targeted by a strike earlier this morning.

'Outbreak of a fire due to the Iranian aggression targeting a facility in Al Ma'ameer, with material damage reported but no casualties recorded, and the competent authorities have begun firefighting procedures,' Bahrain News Agency said in a post on X.

As a result, Bapco has declared force majeure, a legal maneuver that releases a company of its contractual obligations because of extraordinary circumstances.

Bapco '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', said a statement posted by the company.

Oil prices rise to above $100 a barrel for first time in four years

by Patrick Harrington

A spike in prices at the petrol pump is feared after the cost of a barrel of oil rocketed above $100 for the first time in four years.

An emergency meeting of the G7 has been called, where firefighting options including the release of all oil reserves will be discussed.

The Straight of Hormuz is at a standstill amid the Middle East conflict, which means there is major uncertainty hanging over short-term supply.

Iran's Revolutionary Guard has threatened to 'set ablaze' any Western tanker that attempts to navigate the strait, meaning hundreds of ships laden with oil have amassed outside it.

For the first time since war broke out, the effect of the disruption was felt acutely this morning when the price of a barrel of Brent crude was up almost 24 percent.

About a fifth of the world's oil supply is usually shipped through the Strait of Hormuz, but traffic through the narrow passage has all but halted since the war started a week ago.

US Senator Lindsey Graham calls on Israel to 'be cautious'

US Senator Lindsey Graham, of South Carolina, called on Israel to 'be cautious' in its strikes on Iran.

The Republican, who has voiced his support for the operation in Iran, said the Israelis 'have shown amazing capability when it comes to collapsing the murderous regime in Iran. America is most appreciative.

'However, there will be a day soon that the Iranian people will be in charge of their own fate, not the murderous ayatollah’s regime,' he cautioned on X.

'In that regard, please be cautious about what targets you select,' Graham continued.

'Our goal is to liberate the Iranian people in a fashion that does not cripple their chance to start a new and better life when this regime collapses. The oil economy of Iran will be essential to that endeavor.'

US cardinal condemns Trump's video montage of Iranian strikes with movie clips

The Archbishop of Chicago released a statement condemning the Trump administration for its post on Thursday showing 'scenes from popular action movies spliced with actual strike footage from their war on Iran.'

'Our government is treating the suffering of the Iranian people as a backdrop for our own entertainment, as if it's just another piece of content to be swiped through while we're waiting in line at the grocery store,' Cardinal Blase J Cupich said.

'But, in the end, we lose our humanity when we are thrilled by the destructive power of our military. We become addicted to the “spectacle” of explosions.

'And the price of this habit is almost unnoticeable, as we become desensitized to the true costs of war. But the longer we remain blind to the terrible consequences of war, the more we are risking the most precious gift God gave us: our humanity.'

Qatar's Prime Minister has delivered a blunt message to Iran saying the country has 'betrayed us'.

In a firm rebuke of the neighbour's military action in the Middle East, Sheikh Mohammed bin Abdulrahman Al Thani warned Iran had made a 'dangerous miscalculation' but urged all sides to de-escalate.

Though allies with Iran, Qatar's relationship with the country is being tested amid repeated missile and drone attacks.

Decision to end the war will be 'mutually decided' between Trump and Netanyahu

US President Donald Trump told the Times of Israel on Sunday that a decision on when to end the war in Iran will be a 'mutual' one that he will make together with Israeli Prime Minister Benjamin Netanyahu.

'I'll make a decision at the right time, but everything's going to be taken into account,' he added.

FILE - President Donald Trump shakes hands with Israel's Prime Minister Benjamin Netanyahu during a news conference at Mar-a-Lago, Dec. 29, 2025, in Palm Beach, Fla. (AP Photo/Alex Brandon, File)

A New York City police officer has died after suffering a medical episode while deployed to Kuwait, where he was supporting Operation Epic Fury.

Sorffly Davius, a major in the US National Guard, had been assigned to Headquarters Battalion of the 42nd Infantry Division. He deployed to Kuwait last summer in support of Operation Spartan Shield - a mission designed to strengthen defense relationships, enhance regional security and deter aggression in the Middle East.

The 46-year-old served as a data systems engineering officer in the Division Headquarters at Camp Buehring Army Base, responsible for computer and communications network security, New York National Guard officials said.

About 200 protesters surrounded the Iranian women's team bus on Australia's Gold Coast, chanting 'let them go' after a player flashed an SOS signal, amid fears they face prison or death when they return home.

Iran's women's national football team is in Australia competing in the AFC Women's Asian Cup and were beaten 2-0 by the Philippines on Sunday night in Queensland, which ended their campaign.

After the match, about 200 protesters surrounded the team bus, banging on it and chanting 'let them go' as police pushed the crowd back.

Key Updates
  • Bahrain’s state oil company declares force majeure after Iran strikes refinery
  • Oil prices surge and Hegseth guarantees a 'surrender': Key developments in Iran war
  • Oil prices rise to above $100 a barrel for first time in four years
  • Oil prices surge past $100 a barrel as US war with Iran ramps up
  • Mojtaba Khamenei elected as Supreme Leader
  • Iranian military chief killed in strikes, IDF confirms

Follow the latest updates on the US-Israel war with Iran 

Read this on dailymail
  Contact Us
  Follow Us
Site Map
Get Site Map
  About

Read the latest local and international news from trusted sources in one place.