Global News Podcast — "Iran war: Oil prices soar" (March 9, 2026)
Host: Charlotte Gallagher, BBC World Service

Episode Overview

This episode focuses on the escalating US-Israel war with Iran and its global ramifications — most prominently the surge in oil prices and turmoil in energy markets. The discussion covers the economic fallout, political changes in Iran following the death of the Supreme Leader, the fallout for civilians (including the impact on the Iranian women’s football team), notable developments in Turkey and South Sudan, Ukrainian military aid to Middle East nations, and a lighter historical discovery from Egypt. Throughout, the episode weaves in on-the-ground reporting and analysis.

1. Surging Oil Prices – Global Economic Impact

[02:54–07:57]

• Oil Market Disruption:
  Oil prices jumped by 20% in one day, exceeding $100 a barrel, after a week of the Strait of Hormuz (a critical shipping lane) being mostly closed due to the war. Major oil depots in Iran have been destroyed.
• Donald Trump’s Stance:
  President Trump described the spike as "a very small price to pay for what he calls world peace."

  "It's a very small price to pay for what he calls world peace." — Charlotte Gallagher [00:46]

• Global Response:
  • G7 finance ministers discussed but have not decided on releasing emergency oil reserves.
  • Significant inflation risks predicted worldwide, affecting transportation, household heating, and manufacturing, due to increased oil and gas costs.
  • Russia may benefit as US and others ease sanctions to keep oil flowing, despite the Ukraine war.

  “A higher oil price translates into higher costs for factories…a swathe of costs go up.” — Theo Leggett, BBC [05:36] "The more money Russia gets from oil, the more that feeds into Russia's budget.” — Theo Leggett [07:07]

• Shipping Standstill Visualized:
  Anna Foster in Doha described scenes of tankers gridlocked near the Strait, visually confirming the paralysis in global shipping.

  “Everything has ground to a halt.” — Anna Foster, reporting from Doha [04:42]

• Strategic Dilemma:
  G7's reserves cover about four days of global supply; policy makers face tough timing choices on any release.

  “The problem is, when do you release it?” — Theo Leggett [07:40]

2. Political Upheaval: Iran’s New Supreme Leader

[07:57–12:12]

• Leadership Succession:
  • Mojtaba Khamenei, 56, son of the previous Supreme Leader (killed in a recent airstrike), has assumed power. He is a largely unseen and reclusive figure.
• Public Reaction:
  • Many Iranians express deep despair about prospects for change.

  “Even the slimmest chance for a change no longer exists within the system." — Tehran resident (voiced) [08:51] "This means that nothing is going to change. It's the same path, perhaps even worse." — Tehran resident (voiced) [09:20]

• Expert Analysis:
  • Mojtaba’s reputation as a shadowy hardliner is explored by Lyse Doucet:

  "He's a very reclusive figure and very mysterious… Iranians don't even know what his voice sounds like." —Lyse Doucet [09:34]

  • Known alleged role in controversial elections (2005, 2009) where reformist candidates accused him of election manipulation.
  • Uncertainty remains about his public profile and personal security following the personal losses from recent strikes:

  “He’s got to project stability and continuity, but he also has to keep himself alive when he’s got a target on his back.” — Lyse Doucet [11:40]

3. Human Cost of War: Manab School Airstrike

[12:12–14:41]

• Incident Details:
  • An airstrike on a school in Manab, southern Iran, killed over 160 civilians, mostly girls, on the war’s opening day.
• New Evidence and International Scrutiny:
  • Verified video analysis by experts points to a US Tomahawk missile as responsible for the strike, casting doubt on President Trump’s denial:

  “It casts serious doubt on what President Donald Trump has said… the presence of a Tomahawk missile says that this was a US operation.” — Merlin Thomas, BBC specialist [14:04]

• US Response:
  • The US has yet to clarify whether it struck the school, despite possessing relevant intelligence.

  “Normally in these kinds of operations, they would have intelligence... but they’ve not explained and been forthcoming as to why they haven’t come forward with an answer.” — Merlin Thomas [14:30]

4. Notable International Updates

Turkey: Opposition Leader’s Trial

[15:46–19:13]

• Jailed Mayor and Presidential Candidate:
  Ekrem Imamoglu, opposition mayor and potential Erdogan challenger, faces a politically charged corruption trial.

  “With a political coup, with a political trial, he's being held in a trap.” — Istanbul protester [16:13]

• Public Mood:
  • Turkey is bitterly polarized—opposition supporters see the trial as a crackdown, while government factions trust judicial legitimacy.
• International Human Rights Concerns:
  • Human Rights Watch, Amnesty cite the trial as a threat to Turkey’s democracy and judicial independence.

  “They both argue that the case undermines democratic norms and judicial independence.” — Emre Temel [18:36]

South Sudan: Renewed Instability

[19:13–21:39]

• Military Action:
  • Government forces begin a new offensive to recapture rebel-controlled Akobo.
  • Thousands are fleeing, humanitarian situation worsens; 300,000+ already displaced.
• Aid Response:

  “Aid organizations have left the area…some of the towns in those areas are currently deserted.” — Kalkadan Yebatal, BBC [20:33]

Ukraine Exports Drone Warfare Expertise to the Middle East

[21:39–25:56]

• Ukrainian Assistance:
  • President Zelensky agrees to send drone experts to Gulf states to help counter Iranian attack drones (e.g., Shahed drones).

  “Honestly, we have enough work here, but we understand that this war is spreading… we could find… resources to send our instructors.” — Ukrainian drone pilot ("Draka") [23:29]

• Growing Demand:
  • Global demand for Ukrainian drone tech is urgent, especially among Gulf nations now affected by Iranian attacks.
• Strategic Opportunities and Risks for Ukraine:
  • War spreading could distract Western allies; Zelensky seeks to trade drone aid for advanced Patriot missiles.

5. Iranian Women’s Football Team — Risk of Reprisal

[25:56–28:49]

• Act of Defiance:
  • The team refused to sing the Iranian national anthem at their first Asia Cup match in Australia; they sang at later games.
• Threats and Uncertainty:
  • Iranian commentators have labeled them "wartime traitors,” raising fears for the players’ safety and for their families.

  “If they did seek asylum… what would that mean for their families back home?” — Katie Watson, Australia correspondent [26:33]

  • Some in the Australian-Iranian community urge the players to claim asylum; former US President Trump also advocates for their safety.
  • Team’s intentions remain unclear due to limited contact and surveillance; support visible from diaspora crowds at matches, but tension and fear dominate.

6. Ancient Egyptian "Correction Fluid": Humanizing History

[28:49–32:10]

• Discovery at the Fitzwilliam Museum, Cambridge:
  • Egyptologists have found evidence of an ancient "correction" method: white pigment used to fix mistakes on the Book of the Dead papyri.
• Human Connection:

  “When we actually start looking at objects and can actually see chisel marks or… thumbprints… you immediately become more connected to the person who made it.”
  — Helen Strudwick, Fitzwilliam Museum [31:45]

Notable Quotes & Moments

• On the shipping crunch:

  “Everything has ground to a halt.” — Anna Foster [04:42]

• On Iran’s new leader:

  “He's a very reclusive figure and very mysterious… Iranians don't even know what his voice sounds like.” — Lyse Doucet [09:34]

• On Ukraine’s drone expertise being in demand:

  “The request is pretty high and very urgent.” — Stanislav Grushen [24:45]

• On the Iranian women’s footballers:

  “There is certainly concern about what… it means if they do go back to Iran.” — Katie Watson [26:33]

Timestamps for Key Segments

• Oil crisis, Strait of Hormuz: [02:54–07:57]
• Iran’s succession & protests: [07:57–12:12]
• Manab school airstrike verification: [12:12–14:41]
• Turkey political trial: [15:46–19:13]
• South Sudan conflict: [19:13–21:39]
• Ukraine drones in the Middle East: [21:39–25:56]
• Iranian women’s football team: [25:56–28:49]
• Ancient Egypt “correction fluid”: [28:49–32:10]

Tone & Atmosphere:
The episode is urgent, analytic, and, at times, somber — reflecting a world rattled by war and economic anxiety, but also highlighting humanity, resilience, and occasionally, surprising connections across centuries.