Join Research Director Kathleen Brooks live today at 18:00 GMT as we break down the key developments after oil surged above $100, triggering major disruptions across global markets.
Oil prices remain above $100 per barrel, reflecting growing market concern about the economic impact of the conflict and rising stagflation risks. Global stocks are falling, while investors are watching the G7 meeting, which may coordinate a release of strategic oil reserves to ease supply pressures, though any impact may be temporary.
Bond markets are also under pressure, particularly in the UK, where expectations have shifted dramatically from interest rate cuts to potential rate hikes this year as inflation risks increase. Consumer-related stocks are weakening, while energy remains the only sector performing well.
Looking ahead, oil prices will largely depend on whether the Strait of Hormuz reopens, as supply disruptions are a key driver of the current spike. While strategic reserve releases may briefly calm markets, volatility is likely to continue as markets remain highly sensitive to developments in the conflict.
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