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WSJ Minute Briefing

Gulf Squeeze Pushes Oil Past $100

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 9 March 2026

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: Donald Trump Jr. and Eric Trump are among the investors in Powerus, a company formed to bring Ukrainian drones to the U.S. And activist Starboard Value builds a big stake in french-fry maker Lamb Weston. Daniel Bach hosts. Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:28.6

real estate professionals. Here's your morning brief from Monday, March 9th. I'm Daniel

0:35.0

Bach for the Wall Street Journal. Oil prices have crossed $100 a barrel for the first time since Russia's invasion of Ukraine

0:42.0

rattled oil markets back in 2022. The global oil benchmark Brent Crude surged nearly 30%

0:48.7

overnight with Gulf oil producers cutting production as their facilities come under attack

0:53.1

and shipping remains paralyzed.

0:55.6

That said, oil prices paired some gains following a report by the Financial Times this morning

1:00.2

that G7 finance ministers will discuss a possible joint release of oil reserves.

1:05.8

We're exclusively reporting that the president's sons, Eric and Donald Trump Jr., are backing Power Us, a new drone

1:11.9

manufacturer aiming to supply the Pentagon following a ban on Chinese drones. Through a reverse merger

1:18.0

with a golf course holding company backed by the Trumps, the Florida-based drone company plans to

1:22.6

debut on the NASDAQ in the coming months. Power Us CEO Andrew Fox says the move will provide the capital

1:28.7

needed to scale production to 10,000 drones per month. And we report that activist investor

1:34.7

Starboard Value has built a sizable stake in French fry maker Lamb Weston and is planning to push

1:40.1

for changes to boost the Idaho company's underperforming stock. Lam Weston is the largest producer of French fries in North America and the second

1:47.9

biggest globally, with customers including McDonald's and Chick-fil-A.

...

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