Oil Slides in Wild Trading After Trump Suggests Iran War Could End Soon

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 9 March 2026

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Mar. 9. It’s been a stunning day for oil markets. The U.S. oil benchmark dropped to about $85 a barrel, after surging above $119 last night. WSJ reporter David Uberti discusses how the Iran war is scrambling the outlook for fuel. Plus, Pixar’s “Hoppers” had the biggest opening weekend for an original animated movie since 2017. We hear from Journal entertainment reporter Ben Fritz about whether this could be a new franchise for Disney. And Anthropic has sued the Trump administration. Alex Ossola hosts. Sign up for the 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	How are the U.S. businesses of Philip Morris International invested in America?
0:05.0	We're invested in advancing science, giving adults who smoke better options.
0:10.0	We're invested in American manufacturing, helping local economies thrive.
0:15.0	We're invested in community, supporting military veterans and their families,
0:19.0	disaster relief, and economic empowerment.
0:22.5	Because we're proud to be invested in America. See how at uspMI.com.
0:33.3	Oil prices reverse, following more than 20% from their overnight peak and ending below $100 a barrel.
0:40.2	This is some of the wildest commodity trading on record, and it just speaks to the uncertainty in the market of how long the conflict in Iran and the broader Middle East is going to go.
0:50.4	Plus, Anthropics sues the Trump administration for trying to end its contracts with the federal government.
0:56.0	And could Pixar's latest movie be the big new franchise Disney wants?
1:00.1	It's Monday, March 9th.
1:02.0	I'm Alex Oslo for the Wall Street Journal.
1:04.4	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:16.3	Thank you. the top headlines and business stories that move the world today. It's been a wild day for oil prices, which sank 20% from their peak last night and then fell 5% more in after-hours trading.
1:24.4	One big reason, the group of seven advanced economies is prepared to release
1:27.9	strategic oil reserves if they're needed to stabilize the market. And then CBS News reported
1:32.9	that President Trump said he believes that, quote, the war is very complete, pretty much.
1:37.6	At the pump, though, many Americans are already feeling the squeeze. Gas prices have climbed
1:42.5	17 percent to an average $3.48 a gallon since the war started.
1:48.0	Some experts are predicting that it could hit $4 a gallon by the weekend. And of course, people are posting about gas prices on social media.
1:55.7	So regular has gone up about 70 cents in a week or so which is kind of crazy prices over here
2:06.6	479 on the regular 479 on the regular extra 559 guys if you have not gotten gas you want to, because they're even saying tomorrow that the gas prices are going to go up.
	...

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