Oil Slides in Wild Trading After Trump Suggests Iran War Could End Soon

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• 00:03

  Oil prices reverse,

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  falling more than 20 percent from their overnight peak and ending below $100 a barrel.

• 00:10

  This is some of the wildest commodity trading.

• 00:12

  on record and it just speaks to the uncertainty in the market of how long the conflict in Iran and the broader Middle East is going to go.

• 00:20

  Plus,

• 00:20

  Anthropic sues the Trump administration for trying to end its contracts with the federal government.

• 00:26

  And could Pixar's latest movie be the big new franchise Disney wants?

• 00:30

  It's Monday, March 9th.

• 00:31

  I'm Alex Osula for The Wall Street Journal.

• 00:34

  This is the PM edition of What's News,

• 00:37

  the top headlines and business stories that move the world today.

• 00:46

  It's been a wild day for oil prices,

• 00:48

  which sank 20% from their peak last night and then fell 5% more in after-hours trading.

• 00:54

  One big reason,

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  the Group of Seven Advanced Economies is prepared to release strategic oil reserves

• 00:59

  if they're needed to stabilize the market.

• 01:01

  And then CBS News reported that President Trump said he believes that,

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  quote, the war is very complete, pretty much.

• 01:07

  At the pump, though, many Americans are already feeling the squeeze.

• 01:11

  Gas prices have climbed 17 percent to an average $3.48 a gallon since the war started.

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