Good morning from the Financial Times.
Today is Monday, March 9th, and this is your FT News briefing.
Iran names its new supreme leader, and global oil prices rocket past $100 a barrel.
Plus, worries are mounting about the Iran war's impact on food supplies.
We'll see the amount of food that is produced dropping and that's a really big problem.
We could really see this contributing to hunger.
I'm Victoria Craig and here's the news you need to start your day.
Iran's senior clergy have picked Mujtaba Khamenei as the country's next supreme leader.
He is the second son of Ayatollah Ali Khamenei,
who ruled Iran for nearly four decades and was killed in U.S.
and Israeli airstrikes last Saturday.
The Assembly of Experts is the body responsible for the appointment.
It said a majority of members voted for Khamenei in the early hours of Monday to become the third leader of the Islamic Republic.
Khamenei is largely unknown to many Iranians,
but he had backing of regime loyalists and had been a leading candidate to replace his father.
Khamenei's appointment is seen as an act of defiance against U.S.
President Donald Trump, who last week called him a, quote, lightweight.
It's also viewed as a signal that the Islamic Republic will maintain its hardline policies toward the U.S.,
Israel, and the West.
Global oil prices surged as much as 20% in early Monday trade,