09 Mar As Reported Energy Price, news updates and expert commentary 09/03/26: Bonny Light $108.73/bbl
(Oilandgaspress) Roughly 15 million barrels of crude oil — about 20% of the world’s oil — typically are shipped every day through the Strait of Hormuz, according to independent research firm Rystad Energy. The threat of Iranian missile and drone attacks has all but stopped tankers from traveling through the strait, which is bordered in the north by Iran, carry oil and gas from Saudi Arabia, Kuwait, Iraq, Qatar, Bahrain, the United Arab Emirates and Iran. Related News
The all-new Nissan LEAF has been named the overall winner for 2026 by Women’s Worldwide Car of the Year (WWCOTY) – the highest honor bestowed by the international jury comprised exclusively of women automotive journalists.
First launched in 2010 as the world’s first mass market electric vehicle, the LEAF has helped drive the shift to electric mobility for over 15 years. Now in its third generation, new LEAF builds on that legacy with a sleeker design, enhanced range and intuitive technology – qualities identified by this year’s WWCOTY jury. The LEAF rose to the top of a competitive field of 55 vehicles, underscoring its standout appeal among a wide range of global contenders. WWCOTY evaluates vehicles based on what matters most to everyday drivers including safety, design, value, ease of use and environmental impact. Comprised of 86 leading women journalists across more than 50 countries, the jury praised the LEAF for its realistic approach to electric mobility, and balance of advanced electric performance and simple, enjoyable day to day driving. Related News
Tug Network Team (TNT) has expanded into Europe with the addition of Fairplay Towage. The move gives the network a global footprint of 113 ports across 13 countries and a combined fleet of over 200 tugs.
With this addition, TNT expands beyond the Americas by adding a substantial European operator to a network set up to give shipowners and operators broader access to independent towage services. TNT was originally formed by Group Ocean, Sulnorte and CPT Towage, with the aim to strengthen regional cooperation, exchange best practices and build a stronger independent proposition for customers across the Americas. Fairplay Towage brings a well-established European platform to that model. The Hamburg-headquartered group operates in 24 European ports with a fleet of over 100 modern tugs and draws on more than 120 years of maritime experience. Its presence covers key ports in Germany, the Baltics, Poland, the Netherlands and Belgium.
Richard Penning, Head of Global Sales & Growth Strategy at Fairplay Towage, believes in the strength of this strategic alliance: “Joining Tug Network Team gives Fairplay a stronger international platform while keeping independent towage at its core. By linking well-positioned regional operators, we can offer customers broader reach, local expertise and a more joined-up service across key port regions.”
Jean-Philippe Brunet, Executive Vice President – Corporate Affairs and Partnerships for Group Ocean and Tug Network Team Chairman said: “Fairplay’s entry is an important step for the alliance. It extends Tug Network Team into Europe and strengthens our offer to customers looking for dependable towage support across multiple regions. It also underlines the value of an independent network at a time when choice in the towage market matters.”
With Fairplay on board, Tug Network Team adds European reach to its existing presence in the Americas, giving shipowners, operators and charterers broader access to coordinated towage support through a network of independent providers. Related News
Ukrainian drones attack oil depot in Krasnodar Krai, Russia claims. Russia’s Defense Ministry claimed it had shot down four drones over the region overnight. Related News
Russian drone strikes Ukrainian train with 200 passengers on board. Local authorities reported no injuries at the time, and passengers were redirected to their final stations. Related News
Bapco Energies has declared force majeure on its operations after a recent attack on its refinery complex, citing disruptions linked to the ongoing regional conflict in the Middle East.In a statement, the Bahrain-based energy company confirmed that its group operations had been affected by the attack.
“The company 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,” the company said. Despite the disruption, the company reassured residents and businesses that local fuel supplies would not be affected. Related News
The Nikkei 225 in Tokyo fell by as much as 7.6%, while in Seoul the Kospi plummeted over 8%, triggering the automatic suspension of operations for the second time in four sessions. The decline in major Asian markets extended to Australia, where the S&P/ASX 200 dropped by over 4%. In Hong Kong and mainland China, the Hang Seng fell by 3% and the CSI 300 by 2%, while Singapore’s FTSE Straits Times index dropped by almost 3%, reflecting global fear over the escalation of the conflict in the Middle East.
This plunge is directly related to the sharp rise in oil prices, which surpassed $100 a barrel on Sunday for the first time since 2022 (rising to $117, a 30% increase from Friday), driven by supply reductions and the de facto closure of the Strait of Hormuz, a key route for nearly a fifth of the world’s oil. Related News
The pound tumbled on Monday as investors rushed to the safety of the U.S. dollar and ditched the currencies of countries most exposed to rising energy costs, as the U.S.-Iran war sent oil prices surging to $120 a barrel. Sterling was last down 0.81% at $1.331 and on track for its biggest daily fall in over a month. Meanwhile, British government bonds tumbled for a third day and stocks dropped as investors weighed up the potential impact on the UK economy. Read More
According to the International Energy Agency, over 110 billion cubic metres of LNG passed through the Strait of Hormuz last year. It said about 93pc of Qatar’s and 96pc of the UAE’s LNG exports move through the Strait, representing almost one fifth of global LNG trade. “There are no alternative routes to bring these volumes to market,” it added ominously.
Most of that LNG went to Asia, where many economies rely on it. Taiwan is near the top of that list. It gets a third of its gas from Qatar, via the Strait of Hormuz – and has 10 days left till supplies run out. The surge in jet fuel prices rose 150pc in the last week according to market analysts Vortexa. Related News
Bahrain’s Health Ministry said 32 civilians were injured in an Iranian drone attack on the island of Sitra, south of the capital Manama. All those injured were Bahraini citizens, the ministry said early on Monday in a statement carried by the Gulf nation’s state news agency. Among them were children and four people were in serious condition, it said.
The Interior Ministry earlier said in a post on social media platform X that “a number of houses in Sitra were damaged as a result of an attack by drones.” Related News
British government bonds and sterling tumbled on Monday as a 25% jump in oil prices driven by the war in the Middle East fuelled fears of higher inflation and prompted bets on a possible Bank of England rate hike this year. Investors see Britain as more exposed than many other European countries to an energy-price shock linked to the conflict due in part to weak government finances.
Sterling fell 0.8% to $1.331, on track for its biggest daily drop in more than a month, while gilts again underperformed French, German and U.S. government debt. Related News
Governments scrambled to limit the impact on economies and consumers from the widening Iran war, which fuelled a record surge in oil prices on Monday after key producers cut output and Tehran signalled that hardliners would remain in charge.
In a sign of mounting governmental concern over supply disruptions, the Group of Seven finance ministers will discuss the possibility of a joint release of emergency oil reserves in a meeting on Monday, a French government source said. Related News
Oil and gas prices Up in response war and to continued geopolitical-driven uncertainty.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $101.70 | Up |
| Crude Oil (Brent) | USD/bbl | $103.40 | Up |
| Bonny Light 09/03/26 CBN | USD/bbl | $108.73 | Up |
| Dubai | USD/bbl | $73.74 | Up |
| Natural Gas | USD/MMBtu | $3.34 | Up |
| Murban | USD/bbl | $113.20 | Up |
| OPEC basket 06/03/26 OPEC | USD/bbl | $96.40 | Up |
| At press time March 09, 2026 . |
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