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Oil Surges Past $100 Amid Middle East Conflict; UK Evacuates Thousands

3/9/2026

26 3 Full Breakdown

Summary

Story summary

Oil prices surpassed $100 a barrel due to the Middle East conflict.
Prime Minister Keir Starmer pledged to protect Britons from rising energy costs.
The government is working to ensure safety for citizens abroad.
Delays and cost overruns plague UK nuclear projects, with Hinkley Point C nearing £50 billion.
Over 32,000 British nationals have evacuated the region since March 1.

History

Historical Context

The 1973 Oil Crisis began when the Organization of Arab Petroleum Exporting Countries (OAPEC) imposed an embargo against nations supporting Israel during the Yom Kippur War, causing oil prices to quadruple from $3 to nearly $12 per barrel. This crisis led to economic turmoil and energy rationing in countries like the UK, shaping long-term energy policies and international relations that resonate today amid rising energy costs.

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Story summary

Oil prices surpassed $100 a barrel due to the Middle East conflict.
Prime Minister Keir Starmer pledged to protect Britons from rising energy costs.
The government is working to ensure safety for citizens abroad.
Delays and cost overruns plague UK nuclear projects, with Hinkley Point C nearing £50 billion.
Over 32,000 British nationals have evacuated the region since March 1.

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