March 8, 2026

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Latest March 8, 2026

Gulf Nations Cut Oil Production as Strait of Hormuz Closes

Key Points: The UAE and Kuwait are slashing oil production as the Strait of Hormuz shuts down. Kuwait declared force majeure on sales and plans to triple its initial output cuts. The UAE uses alternative pipelines to bypass the blocked shipping route. Oil prices jumped to nearly $93 a barrel, raising fears of global inflation....

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