Day: March 9, 2026

A report about G7 countries discussing a possible joint release of emergency reserves calmed nerves, News.Az reports, citing CNN.
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Brent oil futures for May initially surged over 30% to a peak of $119.50 a barrel, while West Texas Intermediate crude futures jumped as much as 30% to an intraday high of $119.43 a barrel earlier in the day.
At 14:44 ET (18:44 GMT), Brent was last up 7% to $99.11 a barrel, while WTI was up 4.4% to $94.91 a barrel.
“We’ve now entered a one-dimensional market where the trajectory of crude prices outweighs everything else, from earnings to economic data. For this reason, we cannot rule out further price extensions. If crude sustains a bid above $110 a barrel, the risk of a global recession rises sharply,” Peter Corey, chief market strategist at Pave Finance, said.
“Energy is a core input across supply chains, and higher crude prices quickly feed through to transport, manufacturing and consumer costs. Energy traders use a rule of thumb that every $10 dollar increase in crude causes a 0.3% contraction in consumption, so sustained prices above this level would start to meaningfully slow economic activity,” Corey said.

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Sentiment remained under pressure as the escalating conflict in the Middle East boosted oil prices, raising fears that higher energy costs could weigh on the economy, News.Az reports, citing Reuters.
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At 14:49 ET (18:49 GMT), the tech-heavy NASDAQ Composite seesawed between negative and positive territory, last higher by 0.1% to 22,414.68 points, after earlier logging a decrease of as much as 1.5%. The benchmark S&P 500 index was down 0.3% to 6,722.82 points, having eaten into a decline of as much as 1.5%. The blue-chip Dow Jones Industrial Average shed 0.7% to 47,159.27 points, pulling back from a fall of as much as 1.9%. 
The main averages on Wall Street all fell by at least 1% to end the previous trading week, a negative week overall, as the escalating fighting in the Middle East threatened to take a toll on the global economy.

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An earthquake with a magnitude of 5.2 jolted off the east coast of Kamchatka at 1638 GMT on Monday, the GFZ German Research Centre for Geosciences said, News.az reports, citing Xinhua.
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The epicenter, with a depth of 66.2 km, was initially determined to be at 51.94 degrees north latitude and 159.21 degrees east longitude. 

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“Mobilizing domestic capital will help us solve major challenges that arise when development depends excessively on foreign financing,” he said in Nairobi, the Kenyan capital. “The fund marks a new chapter in financing our transformation, making us the architects of our own future,” News.az reports, citing Telegraph.
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He said the expansion of Jomo Kenyatta International Airport will be the first project to be financed under the fund, structured with approximately 20 billion Kenyan shillings (about 155 million U.S. dollars) in equity participation from the fund and domestic institutional investors.
The Kenyan leader said the fund will close the infrastructure financing gap by raising over 5 trillion shillings to support key projects, including the production of 10,000 megawatts of clean energy, 50 mega dams, 200 micro-dams, more than 1,000 small dams, 2,500 km of dual carriageways, and 28,000 km of roads.
He said the government will have the necessary financing for extending the Standard Gauge Railway from the lakeside town of Naivasha to Malaba near the border with Uganda and Kisumu in western Kenya.
The fund will be managed by a board comprising eight persons, including four independent directors to be competitively recruited by the governing council, three public officers appointed based on their expertise, and a chief executive officer.
Funding is expected to come from government allocations, private investment, privatization proceeds, grants, and loans. 

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The chairperson said in a statement that he is closely following developments in the region, which are marked by “concerning incidents that are escalating tensions and undermining regional stability,” News.Az reports, citing CNN.
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He expressed deep concern over recent attacks on critical infrastructure, including energy and transport facilities, which further heightened tensions and is threatening regional and global economic stability.
Highlighting that such actions are disrupting vital supply chains and have far-reaching implications for international trade and energy markets, he condemned any violation of international law, including infringements on the sovereignty and territorial integrity of states.
He called on all related parties to exercise maximum restraint, prioritize dialogue and diplomacy, and work toward a swift de-escalation of the situation, in accordance with the principles and purposes of the Charter of the United Nations.
“Rising oil prices and disruptions in trade routes are already affecting markets, including the export of perishables from Africa, while disruptions to airspace are impacting African airlines and travel connectivity,” Youssouf said.
He reiterated the 55-member continental organization’s commitment to international law, the peaceful resolution of disputes, and the preservation of international peace and security. 

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Kijaji made the remarks late Sunday during an inspection tour of the park, where she assessed the damage caused by recent downpours linked to climate change, which had left several tourist vehicles stranded for extended periods, News.az reports, citing BBC.
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She said the government would urgently release the funds to ensure the timely rehabilitation of the affected infrastructure, including bridges and roads critical for tourism activities in the park.
“I urge tour guides to strictly follow instructions from rescue officers deployed by the Tanzania National Parks Authority in areas affected by the rains,” Kijaji said.
Serengeti Chief Park Warden Ismail Omary said the park had already taken emergency measures following the damage, including temporary repairs to roads and bridges, deployment of security personnel, and provision of emergency accommodation for stranded visitors and drivers.
Omary added that park authorities also assisted in rescuing stranded vehicles and waived overstay fees for tourists whose departures were delayed due to damaged roads.
Serengeti National Park in northern Tanzania is a vast protected savanna ecosystem covering about 14,750 square kilometers, famous for its sweeping grasslands, scattered acacia trees, rocky kopjes, and one of the highest concentrations of wildlife in the world. 

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