Iran's choice of Mojtaba Khamenei appears to close path to swift end to war

Iran named Mojtaba Khamenei to succeed his slain father as supreme leader on Monday (Mar 9), signalling that hardliners remain firmly in charge and appearing to close off any path to a swift end to war in the Middle East.

The prospect that the disruption to global energy supplies - already one of the most severe in history - could last longer than previously expected sent oil prices surging in record leaps, and global stock markets went into a nosedive.