
U.S. President Donald Trump has authorized the release of 172 million barrels of crude from the Strategic Petroleum Reserve as part of a coordinated action with the International Energy Agency, in a bid to contain rising fuel prices after market disruption caused by the war with Iran. The Department of Energy said deliveries will begin next week and will take about 120 days to complete.

José Antonio Kast will be sworn in as Chile’s president on Wednesday with a pledge to lead an “emergency government” focused on security, the economy and migration control, as he seeks to turn his electoral mandate into early, visible action. His team has drafted a first 90-day roadmap combining administrative measures, regulatory changes and an initial batch of bills meant to show movement from the outset.

The United States and Israel launched what the Pentagon and witnesses in Iran described on Tuesday as the heaviest day of bombing since the war began, while Washington widened operations around the Strait of Hormuz and said it had destroyed 16 Iranian mine-laying vessels. The move further increased risks around the world’s most critical energy chokepoint, through which about a fifth of global oil and liquefied natural gas normally passes.

Argentine President Javier Milei said in New York that he is “the most Zionist president in the world,” reaffirming his alignment with the United States and Israel during an appearance at Yeshiva University, one of the main stops on a U.S. trip that also included investor meetings as part of “Argentina Week.” The university said the event was part of a three-day visit focused on economic leadership and support for Washington and Israel in the war against Iran.

Brazilian President Luiz Inácio Lula da Silva warned Monday that the country must be prepared to defend itself against potential external threats, as global geopolitical tensions intensify, during a joint appearance with South African President Cyril Ramaphosa in Brasília.

The Falkland Islands Legislative Assembly marked Commonwealth Day 2026 on Monday with a public statement highlighting the Territory’s links to the wider Commonwealth network and the role of local democratic institutions. In the release issued on March 9, the Assembly said the Commonwealth flag was flown alongside the Falklands flag on Victory Green, reflecting “our pride in being part of the Commonwealth family of nations.”

We join together on this Commonwealth Day at a time of great challenge and great possibility. Across our world, communities and nations face the increasing pressures of conflict, climate change and rapid transformation. Yet it is often in such testing moments that the enduring spirit of the Commonwealth is most clearly revealed.

The United States continued deporting migrants to Iran and Venezuela while increasing military and diplomatic pressure on both countries, according to official records, agency reports and data from organizations tracking removal flights. In Iran’s case, Washington resumed deportation flights to Tehran in September 2025 after decades without carrying out such transfers, in a shift that coincided with a sharp deterioration in bilateral relations.

British finance minister Rachel Reeves said on Monday that the United Kingdom was ready to support a coordinated release of international oil reserves if the Middle East crisis keeps pushing up energy prices, though no formal G7 decision has yet been taken. Reeves made the statement after joining a virtual meeting of G7 finance ministers, as oil prices remained elevated because of disruption to shipping through the Strait of Hormuz. Reuters reported that the option under discussion is a joint emergency stock release under the International Energy Agency framework.

Oil prices climbed above US$100 a barrel on Sunday in futures trading, reaching their highest levels since 2022 as the war in the Middle East, the effective closure of the Strait of Hormuz and fresh production cuts among Gulf producers tightened supply expectations. Reuters reported Brent rose as high as US$111.04 a barrel while West Texas Intermediate (WTI) touched US$111.24 in early trading. AP later put Brent at US$107.97 and WTI at US$106.22, both more than 16% above the previous close.