Corey Feldman alleges he was snubbed from Oscars Rob Reiner tribute

Corey Feldmanis responding to fan outrage, alleging he was left out of a tribute toRob Reinerat the upcomingAcademy Awards.

The actor, 54, said in aMarch 6 post on Xthat he was "not invited" to Sunday's Oscars ceremony to honor Reiner, who directed him in the 1986 film "Stand By Me."The Daily Mailpreviously reported that Feldman was not asked to participate in a planned tribute to Reiner at the ceremony scheduled for March 15.

Feldman, though, tried to tamp down fan outrage over his alleged lack of an invitation.

"I understand many believe [it's] due 2 being outspoken about the abuse I suffered as a child & the campaign 2 silence me," Feldman wrote in an all-caps X post. "However, this [isn't] about me! [It's] not my moment @ all! [It's] about the tragic loss of [our] friend Rob Reiner & his memory."

Feldman also asked his fans to "please take down any petitions" pushing for him to be invited to the Oscars, adding, "They [don't] need me there." He also said that he will "honor Rob my own way."

USA TODAY has reached out to the Academy for comment.

Feldman starred as Teddy in Reiner's classic coming-of-age movie "Stand By Me" oppositeWil Wheaton,Jerry O'ConnellandRiver Phoenix.

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Conan O'Brienbreaks silence on Rob Reiner's killing after his holiday party

Rob Reiner speaks onstage at Collider's Directors On Directing Panel during 2025 Comic-Con International: San Diego at San Diego Convention Center on July 24, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends SiriusXM Presents Conan O'Brien Needs A Friend Live With The Cast Of "Spinal Tap 2" at SiriusXM Studios on Sept. 4, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends the premiere of "Spinal Tap II: The End Continues" at The Egyptian Theatre Hollywood on Sept. 9, 2025, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> From left: C. J. Vanston, Harry Shearer, Valerie Franco, Christopher Guest, Michael McKean, Fran Drescher and Rob Reiner attend the premiere of "Spinal Tap II: The End Continues" at The Egyptian Theatre Hollywood on Sept. 9, 2025, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends the premiere of "Spinal Tap II: The End Continues" at The Egyptian Theatre Hollywood on Sept. 9, 2025, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and wife Michele Singer Reiner attend the Human Rights Campaign's 2025 LA Dinner at the Fairmont Century Plaza in Los Angeles on March 22, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends the Human Rights Campaign's 2025 dinner in Los Angeles on March 22, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and wife Michele Singer Reiner attend the Human Rights Campaign's 2025 LA Dinner at the Fairmont Century Plaza in Los Angeles on March 22, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner speaks onstage at the screening of "The American President" during the 2025 TCM Classic Film Festival at TCL Chinese Theatre on April 25, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends the screening of "Misery" during the 2025 TCM Classic Film Festival at TCL Chinese Theatre on April 25, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and Kathy Bates attend the screening of "Misery" during the 2025 TCM Classic Film Festival at TCL Chinese Theatre on April 25, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Aaron Sorkin, Rob Reiner and TCM Host Ben Mankiewicz attend the screening of "The American President" during the 2025 TCM Classic Film Festival at TCL Chinese Theatre on April 25, 2025.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Jake Reiner, Romy Reiner, Rob Reiner, and Michele Reiner attend the 75th Primetime Emmy Awards at Peacock Theater on January 15, 2024, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and Sally Struthers speak onstage during the 75th Emmy Awards at the Peacock Theatre at L.A. Live in Los Angeles on Jan. 15, 2024.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and his wife Michele Reiner attend the 46th Kennedy Center Honors gala at the Kennedy Center for the Performing Arts in Washington, DC, on Dec. 3, 2023.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Director Rob Reiner attends the photocall of "This Is Spinal Tap" during the 75th annual Cannes film festival at Majestic Beach on May 18, 2022, in Cannes, France.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Director Rob Reiner attends the photocall of "This Is Spinal Tap" during the 75th annual Cannes film festival at Majestic Beach on May 18, 2022, in Cannes, France.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Director Rob Reiner attends the photocall of "This Is Spinal Tap" during the 75th annual Cannes film festival at Majestic Beach on May 18, 2022, in Cannes, France.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends The Paley Honors: A Special Tribute To Television's Comedy Legends at the Beverly Wilshire Four Seasons Hotel on Nov. 21, 2019, in Beverly Hills, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and Larry David attend the Los Angeles premiere of Neon's "The Biggest Little Farm" at the Landmark Theater on May 7, 2019, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner and Larry David attend the Los Angeles premiere of Neon's "The Biggest Little Farm" at the Landmark Theater on May 7, 2019, in Los Angeles, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Rob Reiner attends the "This Is Spinal Tap" 35th anniversary during the 2019 Tribeca Film Festival at the Beacon Theatre.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> From left: Christopher Guest, Harry Shearer, Michael McKean, and Rob Reiner attend the "This Is Spinal Tap" 35th anniversary during the 2019 Tribeca Film Festival at the Beacon Theatre on April 27, 2019, in New York City.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Special Guests Billy Crystal and Rob Reiner attend the Hand and Footprint Ceremony: Billy Crystal at the 2019 10th Annual TCM Classic Film Festival on April 12, 2019, in Hollywood, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Special guests Billy Crystal and Rob Reiner attend the Hand and Footprint Ceremony at TCL Chinese Theatre IMAX on April 12, 2019, in Hollywood, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" /> Special guests Billy Crystal and Rob Reiner attend the Hand and Footprint Ceremony at TCL Chinese Theatre IMAX on April 12, 2019, in Hollywood, California.

" style="max-width:100%; height:auto; border-radius:6px; margin:10px 0;" loading="lazy" />

Rob Reiner found dead at 78. See photos from his Hollywood career.

Rob Reiner speaks onstage at Collider's Directors On Directing Panel during 2025 Comic-Con International: San Diego at San Diego Convention Center on July 24, 2025.

Over the years, Feldman has spoken out about alleged sexual abuse in Hollywood, including claiming in a 2025 documentary that his late "Lost Boys" co-star Corey Haim molested him on the set of the 1987 film. He has also alleged he was abused by other men in the business.

Reiner wasfound dead alongside his wife, Michele Singer, in December. Theirson, Nick Reiner, has been chargedwith their murder. He has pleaded not guilty.

Jerry O'Connellbreaks down in emotional tribute to Rob Reiner

The Academy has not confirmed any details about a possible tribute to Reiner, the director of acclaimed films including "When Harry Met Sally…" and "The Princess Bride," at Sunday's Oscars.

Reiner has been honored at several other awards shows over the past several months, including January's Golden Globes.Host Nikki Glaser ended the eveningby donning a "This Is Spinal Tap" hat and referencing a line from Reiner's 1984 comedy.

Chelsea Handler also honored Reinerwhile hosting January's Critics' Choice Awards, praising the late filmmaker as the "nicest guy in Hollywood."

Contributing: Anna Kaufman

This article originally appeared on USA TODAY:Corey Feldman alleges Oscars snubbed him from Rob Reiner tribute

byVaclavien Pynzarien

in

March 10, 2026

Corey Feldman alleges he was snubbed from Oscars Rob Reiner tribute

Corey Feldmanis responding to fan outrage, alleging he was left out of a tribute toRob Reinerat the upcomingAcademy Award...

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Timothée Chalamet calls opera and ballet 'dying' art forms in resurfaced video amid recent controversy

A recently resurfaced video from 2019 shows Timothée Chalamet calling opera and ballet "dying" art forms.

Key Points

• The comments come in the wake of controversy Chalamet ignited after a February town hall, when he claimed that "no one cares" about either form of art anymore.

• Chalamet has been criticized by a wide variety of entertainers and institutions for the comments, from the Metropolitan Opera to Doja Cat.

Whatever hopesTimothée Chalametmay have harbored to leave the controversy over his recent ballet and opera comments behind have just been dashed.

TheMarty Supremestar and Oscar hopeful sparked tension with a broad coalition of arts institutions and the performers that support them when he remarked during a FebruaryCNN town hallwith Matthew McConaughey that he wouldn't want to be "working in ballet or opera" because "no one cares about this anymore." If anyone was offended by those remarks, he joked, it would probably only amount to a loss of "14 cents in viewership."

The backlash around Chalamet's comments hasn't died down, and a 2019 video of the actor that recently resurfaced on TikTok is poised to turn it up even further.

The videotaken by TikTok user @thealienstookover in 2019 and reshared on Saturday shows Chalamet speaking at an event intended to promote his historical dramaThe King.

"No 'woe is me' thing, but you start working on movies, you start acting, pursuing your thing," Chalamet tells the crowd. "I started getting the sense it was maybe opera or ballet or something, it's kind of like a dying art form or something."

Then Chalamet citedCall Me By Your NameandLadybird, the two films responsible for his transformation from working actor to sought-after star, which elicited a chorus of whoops from the audience.

Entertainment Weeklyhas reached out to a representative for Chalamet for comment.

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Those who work in ballet or opera have continued to react to Chalamet's initial comments.

New York City's Metropolitan Operashared a videoon March 6 highlighting the grueling work that goes into each elaborate production with the caption, "This one's for you," followed by Chalamet's official account tag.

Get your daily dose of entertainment news, celebrity updates, and what to watch with ourEW Dispatch newsletter.

Several cohosts ofThe Viewand the musician Doja Cat also criticized Chalamet's comments on March 9.

Whoopi Goldberg, Sunny Hostin, and Sheryl Underwood took aim, with Hostincalling the 30-year-old actor"vapid [and] shallow," and Goldberg pointing out that both Chalamet's sister, Pauline, and mother, Nicole Flender, have dance backgrounds. "Be careful, my boy," she advised.

Doja, meanwhile,reminded her 27 million followersin a now-deleted video that "opera is 400 years old. Ballet is 500 years old." Despite her contention that "the industry is having a tough time," that "doesn't mean people don't care about it. People care."

Read the original article onEntertainment Weekly

byVaclavien Pynzarien

in

March 10, 2026

Timothée Chalamet calls opera and ballet 'dying' art forms in resurfaced video amid recent controversy

A recently resurfaced video from 2019 shows Timothée Chalamet calling opera and ballet "dying" art forms. ...

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“Drew Barrymore Show” snags multi-season renewal amid daytime talk show cancellations

Drew Barrymoreis here to stay… at least for a couple more seasons.

While daytime TV will soon bemourning the loss ofThe Kelly Clarkson ShowandSherri Shepherd'sSherri, CBS is providing a positive update for all the Barrymore diehards. The actress' eponymous talk show has been renewed for two seasons, which will takeThe Drew Barrymore Showthrough its eighth season in 2027-2028.

Amid a challenging time for both daytime and late-night talk shows, Barrymore's series has just enjoyed its most-watched season to date, averaging 1.6 million daily viewers.

Barrymore celebrated the renewal news in a statement provided toEntertainment Weekly. "What matters most to us is our viewers and the people that come here," she said. "This show began as a space for intimate conversation, and we're continuing to plant our flag as a truly multi-platform experience. We live in a world where people discover content in so many different ways, and from the very start in 2020, our mission was to break the mold rather than conform to the traditional daytime landscape."

Barrymore continued, "I hold myself accountable to staying savvy about how and where this show is seen — feeding every corner that counts, while daring to just be myself and figure out life with others. My curiosity about people is what fuels me. I'm so excited to continue as I see this endeavor as an opportunity and a gift."

Last month,Kelly Clarksonrevealed that she'd decided toendThe Kelly Clarkson Showafter seven seasons. She will continue to host through the fall. The announcement came months after the death of her ex-husband, Brandon Blackstock, the father of her children Remy and River Rose. Blackstock's death led Clarkson to postpone several of her Las Vegas residency datesin order to "be fully present" for their children.

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Get your daily dose of entertainment news, celebrity updates, and what to watch with ourEW Dispatch newsletter.

The "Since U Been Gone" singer thanked her colleagues and fans of the series, explaining that her departure "was not an easy decision" and adding that it would give her time "to prioritize my kids, which feels necessary and right for this next chapter of our lives."

Hours later came the announcement thatShepherd's talk show had been canceledafter four seasons. Shepherd spoke to audiences about the cancellation Feb. 9, after having briefly stepped away during a bout with COVID-19.

"I want to thank you for laughing and crying with us," Shepherd said. "Thank you for supporting my unhealthy obsession with Lenny Kravitz. But I've got to tell you, when I first started, this show was built on one thing, and what I wanted it built on was joy. The intention of this show, always, was my prayer for you to leave happier than when you came. And you know this, I talked about this. It has been my dream to have a talk show, and I'm so grateful I had the chance to do it for four seasons."

Like Clarkson, Shepherd will continue to host through the fall. As for other daytime programming,Jennifer Hudson's talk show has beenrenewed for a fifth seasonand no decision has been announced aboutThe Tamron Hall Show, which debuted in 2019.

Read the original article onEntertainment Weekly

byVaclavien Pynzarien

in

March 10, 2026

“Drew Barrymore Show” snags multi-season renewal amid daytime talk show cancellations

Drew Barrymoreis here to stay… at least for a couple more seasons. While daytime TV will soon bemourning the l...

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Aramco sees 'catastrophic consequences' for oil if shipping doesn't resume in Strait of Hormuz

By Maha El Dahan and Yousef Saba

A satellite image shows fire in the Ras Tanura oil refinery in Saudi Arabia after a drone attack

DUBAI, March 10 (Reuters) - Saudi Arabia's Aramco, the world's top oil exporter, said on ‌Tuesday that there would be "catastrophic consequences" for the world's oil ‌markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.

The ​disruption has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture, automotive and other industries, Aramco CEO Amin Nasser told reporters on an earnings call.

Nasser noted ‌global inventories of oil were ⁠at a five-year low and said the crisis will lead to drawdowns at a faster rate, adding that ⁠it was critical that shipping in the strait resumed.

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"There would be catastrophic consequences for the world's oil markets and the longer the disruption goes ​on, and ​the more drastic the consequences for ​the global economy," he said.

Nasser ‌also said a small fire from an attack last week on Aramco's Ras Tanura refinery, its largest domestically, was quickly extinguished and brought under control, adding that the refinery was in the process of being restarted.

Iran's Revolutionary Guards said on Tuesday they would not allow "one litre ‌of oil" to be shipped from the ​Middle East if U.S. and Israeli attacks ​continue, prompting a warning ​from President Donald Trump that the U.S. would hit ‌Iran much harder if it blocked ​exports from the ​vital energy-producing region.

His comments come after Aramco reported a 12% drop in annual profit mainly due to lower crude prices. It ​also announced it would ‌repurchase up to $3 billion worth of shares in its first-ever ​buyback.

(Reporting by Yousef Saba and Maha El Dahan; Writing by ​Nadine Awadalla; Editing by Edwina Gibbs)

byVaclavien Pynzarien

in

March 10, 2026

Aramco sees 'catastrophic consequences' for oil if shipping doesn't resume in Strait of Hormuz

By Maha El Dahan and Yousef Saba A satellite image shows fire in the Ras Tanura oil refinery in Saudi Arabia ...

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Thailand orders bureaucrats to use stairs and work from home in energy saving drive

BANGKOK, March 10 (Reuters) - Thai Prime Minister Anutin Charnvirakul has ordered civil servants to conserve energy amid an energy squeeze brought on ‌by the conflict in the Middle East, a government spokesperson ‌said on Tuesday, with measures including suspending overseas trips and using stairs instead of elevators.

"The prime ​minister ordered that starting from today civil servants will work from home," spokesperson Lalida Periswiwatana told reporters, adding that exceptions would be made for officials who must serve the public.

Southeast Asia's second-largest economy has around 95 days of energy ‌reserves left, and it ⁠has been seeking additional sources of liquefied natural gas from the United States, Australia and South Africa, according to Energy ⁠Minister Auttapol Rerkpiboon.

But it is urgently trying to reduce demand. Lalida said other government measures to conserve energy include setting air conditioning temperatures at 26 to 27 ​degrees Celsius (78.8 ​to 80.6 Fahrenheit) and wearing short-sleeved ​shirts instead of formal attire ‌like suits and ties.

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Nearly 68% of Thailand's energy needs are met from natural gas. Over half of its liquefied natural gas is sourced from domestic production in the Gulf of Thailand, while 35% comes from imports, including 13% from neighbouring Myanmar, according to the country's Energy Regulatory Commission.

Earlier this month, Thailand also ‌halted energy exports to all countries other ​than Laos and Myanmar.

Government officials have been ​ordered to reduce electricity use ​at office buildings by switching off lights and electrical equipment ‌when not needed, Lalida said. The ​government will also ​ask the public to cooperate and encourage energy saving measures such as carpooling.

"If the situation escalates, the government may consider mandatory measures including ​dimming advertising signs at ‌shops, cinemas and businesses and closing gas stations at 10 p.m.," ​the government also said in a statement.

(Reporting by Panarat Thepgumpanat and ​Chayut Setboonsarng, Editing by David Stanway)

byVaclavien Pynzarien

in

March 10, 2026

Thailand orders bureaucrats to use stairs and work from home in energy saving drive

BANGKOK, March 10 (Reuters) - Thai Prime Minister Anutin Charnvirakul has ordered civil servants to conserve energy amid ...

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Oil Prices Top $100 A Barrel For First Time Since 2022

President Donald Trump says surging gasoline prices are a "very small price to pay" as theIran warroils  global energy markets, sending crude oil prices surging above $100 a barrel for the first time since Russia's 2022 invasion of Ukraine.

The conflict has severely disrupted oil flows through theStrait of Hormuz, a key global trade route, increasing prices at theU.S. gas pumpand threatening to undercut Trump'seconomic agendaahead of the November midterms.

Read More:Gas Prices Surge in U.S. as Iran War Chokes Global Oil Supply. What You Need To Know

The President on Sunday dismissed concerns over rising crude prices as a temporary blip.

"Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace," President Donald Trumppostedon Truth Social on Sunday evening. "ONLY FOOLS WOULD THINK DIFFERENTLY!"

Energy Secretary Chris Wright also appeared eager to reassure Americans that prices will soon fall. "Energy will flow soon," Wright toldFox Newson Sunday. "The unknown that this could be some long, you know, drawn-out crisis [has driven up prices]. But it won't be."

Still, even if the conflict suddenly de-escalated, Antonia Syn, a gas and LNG analyst at energy research firm Rystad Energy, tells TIME that gas prices would likely take some time to return to normal levels as markets would need to watch for confirmation that production and shipping has safely resumed. And if the war leaves "lingering uncertainty around regional security," that could lead to persistent geopolitical risk premiums, Syn says, meaning higher prices for some time.

Oil shipping halted

Of the wave ofretaliatory attacksthat Iran has launched across the Middle East, its effective closure of the Strait of Hormuz—threatening to fireon any ship ​trying to pass—is a powerful weapon.

Shipping through the strait, a narrow waterway through which a fifth of the world's oil supply passes, has  all but ground to a halt. The strait is the only sea passage from the Persian Gulf to the open ocean.

Since the U.S.-Israeli strikes on Feb. 28, merchant ships passing through the straithave been attacked, while broader aerial attacks traded between the U.S., Israel and Iran also pose a threat to vessels passing through. Iran-linked vessels have been the only commercial ships that have transited through the strait over the weekend, according toBloomberg. The last non-Iranian commercial ship to pass through Hormuz was a Chinese-owned bulk carrier on Saturday morning.

"In the whole written history of the strait, it has never been closed, ever," JPMorgan Chase analyst Natasha Kaneva told theWall Street Journal. "To me, it was not just the worst-case scenario. It was an unthinkable scenario."

Last June during the12-day war between Israel and Iran, Iran had also threatened to close the strait in retaliation for U.S.-Israeli attacks on its nuclear facilities. At the time, Peter McNally, Global Sector Lead at research firm Third Bridge, told TIME, "The world cannot replace all the oil that flows through the Strait of Hormuz, which remains the most critical chokepoint in global crude markets."

More than 14 million barrels of crude flowed through the strait per day before its closure. Saudi Arabia hasdiverted shipments of oilto the Red Sea at record levels, although that route could also face challenges from potential attacks by the Iran-aligned Houthis in Yemen, who have targeted vessels in the area since 2023 to protest Israel's bombardment of Gaza.

Oil refineries attacked, output reduced

With the strait effectively closed, some oil refiners are scaling back operations. Kuwait, the United Arab Emirates, and Iraq have reduced crude output as storage tanks have filled with backed up crude.

High gas price rises may not be as temporary as Trump and Administration officials have assured Americans they will be. Oil market analysts havesuggestedthat even if the war ended today, it could take two weeks to restore maritime traffic in the Gulf to pre-war levels and two months to return oil production to normal levels.

Energy production facilities in the Middle East have also faced attacks, directly threatening the supply of crude. Oil refineries in Saudi Arabia, Qatar, Bahrain and Kuwait have blamed Iran for strikes in the last week. On Saturday, Israelcarried out strikeson four oil storage facilities and an oil production transfer center in Iran, according to Iranian state media. Iran exports an average of 1.6 million barrels of crude per day, less than many of its neighboring Gulf states.

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On Sunday, the Iranian Revolutionary Guard Corps threatened retaliatory attacks on energy sites across the region. "If you can tolerate oil at more than $200 per barrel, continue this game," the IRGC warned the U.S. and Israel.

Some analysts foresee this war being more disruptive to global energy systems than the outset of Russia's war with Ukraine in 2022, when oil prices hit an even higher peak. "The scale of today's disruption in the Persian Gulf already is far greater than what was seen in 2022, and the implications are likely to be felt more widely than in the past," McNally says. Muyu Xu, a senior crude oil analyst at global trade analytics firm Kpler, tells TIME that further escalation in the Middle East could push prices beyond those historical highs, especially if major oilfields in the region come under attack. Still, Xu adds that de-escalation and a quick reopening of the Strait of Hormuz could bring prices down quickly, even if not immediately to pre-conflict levels.

Qatar's Minister of Energy Saad al-Kaabi toldtheFinancial Timeson Friday that Gulf producers will be forced to stop exports "within days," which would drive oil prices even higher. "Everybody that has not called for force majeure we expect will do so in the next few days that this continues," Al-Kaabi said.

On Monday, afterIran announced its new Supreme Leader, Bahrain's state oil companydeclared force majeure, which releases it of its contractual obligations due to extraordinary circumstances.

QatarEnergy, which is among the world's largest LNG suppliers, alsopartially halted productionafter one of its complexes was hit by drone strikes on March 2. "Even a short disruption removes meaningful volumes from the global balance," Syn says. "Rebalancing this loss would likely require some degree of demand destruction in price-sensitive importing countries. A closure lasting longer than two months would likely force much deeper adjustments across global energy systems."

That loss acutely impacts South Asian countries, including Pakistan, India, and Bangladesh, which depend heavily on Middle Eastern supplies, Syn adds.

And although China waspreviously better ableto weather energy disruptions in the region, includingreceiving assurancesfrom the Houthis in 2024 that they would not target Chinese vessels in the Red Sea, Beijing appears just as rattled as the rest of the world. The Chinese government directed its oil refiners topausefuel exports last week, instead prioritizing domestic needs amid fears of a deepening global energy crisis.

Oil prices surge

Already surging oil prices across the U.S. could rise even higher, according to Patrick De Haan, a petroleum analyst. A second wave of price increases is expected in several Republican states that use price cycling systems, De Haan said, like Michigan, Indiana, Ohio, Kentucky, Texas, and Florida.

Despite assurances from the Trump Administration that the war will end within weeks, thewidening conflict,skepticism over the U.S.'s plan, and Iran's apparent unwillingness tonegotiate a cease-firehave "forced traders to price in the possibility of a wider conflict," De Haan wrote in aposton X.

Read More:How Americans Feel About Trump's War With Iran, According to the Latest Polls

White House spokesperson Taylor Rogers previously told TIME that Trump has "a strong game plan to keep the energy market stable well before Operation Epic Fury began, and they will continue to review all credible options and execute on them when appropriate."

Trump isreportedlyweighing easing sanctions on Russian oil.

But McNally tells TIME that there are few alternatives to the Middle East for oil. U.S. oil production has largely flattened out, he says, in part because producers expected an oversupply of oil this year before conflict broke out. He estimates that it would take months to reup production levels, which they will almost certainly aim to do given high prices now. The world may also turn to South America, where Guyana, Brazil, and Argentina are producing just under six million barrels of oil per day at maximum capacity, McNally says. That's just a quarter of the amount that OPEC producers supply. The U.S. has also sought to increase oil production from Venezuela, but McNally says it will take years for the country to supply a meaningful amount of oil after years of deterioration of its oil industry.

The U.S. may also consider releasing strategic reserves of oil, which it did in 2022, McNally says. But U.S. stockpiles are nearly 30% below early 2022 levels, he cautions.

Volatility in energy markets is also rippling through financial markets and rattling investors. As crude prices surged, equity markets across Asia and therest of the worldslumped, with South Korea's Kospi and Japan's Nikkei benchmarkssliding sharplyon Monday.

If supply disruptions around the Gulf drag on, the current surge in oil prices may prove more enduring than the spike that followed Russia's invasion of Ukraine. Energy analysts say prolonged turmoil could amount to one of the most severe sustained energy crisessince the 1970s, when Arab oil embargoes and the 1979 Iranian Revolution choked off global exports, sent crude prices soaring, and tipped Western economies into recession.

Contact usatletters@time.com.

byVaclavien Pynzarien

in

March 10, 2026

Oil Prices Top $100 A Barrel For First Time Since 2022

President Donald Trump says surging gasoline prices are a "very small price to pay" as theIran warroils  global...

Read More