Oil price surge pushes investors to bet against interest rate cut March 2, 2026 Investors have pared bets that the Bank of England will cut interest rates in March, as analysts worry that the surge in oil and gas prices could prop up inflationary pressures in the economy. European gas prices were up over 40 per cent on Monday while oil prices gained seven per cent to hover around [...]
Gas prices ‘go stratospheric’ as Qatari plant hit by Iran strikes March 2, 2026 European gas prices surged on Monday after Iranian retaliatory strikes shut down the world’s largest export plant for liquified natural gas (LNG), based in Qatar. In a statement, QaterEnergy, the Qatari state energy company, said it had ceased production of LNG due to “military attacks” on Ras Laffan Industrial City and Mesaieed Industrial City. “One [...]
Global trade at risk as insurers suspend cover following Iran conflict March 2, 2026 More than half of the world’s largest maritime insurance firms are set to cease covering war risks for ships entering the Persian Gulf after conflict broke out in the Gulf region, following the US and Israel’s launch of strikes on Iran on Saturday. As of Thursday, seven members of the City-based International Group of Protection [...]
Oil prices spike as UK base hit by Iranian missile March 2, 2026 Oil prices spiked this morning as tensions continued to escalate in the Middle East, raising concerns that a key shipping route could be halted and an Iranian missile attack on an RAF base could drag the UK into a regional war. The cost of a barrel of brent crude – the international benchmark for oil [...]
FTSE 100 Live: Gas price surge after LNG halt, stocks slide amid Iran conflict March 2, 2026 Good morning and welcome to the Morning Wire liveblog. Global markets were in store for another dose of risk to kick off the new week after tensions in the Middle East reached a boiling point over the weekend. The cost of a barrel of brent crude – the international benchmark for oil prices – climbed [...]
Defence secretary defends UK stance on Iran as Starmer faces backlash March 1, 2026 Keir Starmer is facing mounting criticism from senior Conservatives over Britain’s response to the escalating conflict with Iran, as defence secretary John Healey confirmed UK forces are actively intercepting Iranian drones and reinforcing regional defences. Speaking on Sky News, Healey said “few people will mourn the Ayatollah’s death”. He described the Iranian regime as a [...]