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Israel expands strikes on Iranian oil as Trump hits out at Starmer

Israel expanded its attacks on Iranian oil facilities as President Trump hit out at the Prime Minister, telling Keir Starmer he doesn’t need the UK’s military support. The boss of Iran’s oil distribution company told state TV five sites were “damaged” but that the fires have been brought under control.  The chief executive of the [...]

Mar 08, 2026 &03380808202631; 09:38 UTC www.cityam.com Trending 3/5

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Negative for markets

Sentiment score: -65/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Israel expanded military strikes on Iranian oil facilities, damaging five sites, while Trump criticized UK PM Starmer over military support. This escalation in Middle East tensions threatens global oil supply stability and increases geopolitical risk premium in energy markets.

AI CONFIDENCE

85% Very high

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

↑

Oil (WTI Crude)

CL=FCommodity

Expected to rise

Iranian oil facility damage reduces regional supply, supporting crude oil prices amid geopolitical tensions

↑

Gold Futures

GC=FCommodity

Expected to rise

Safe-haven demand increases as Middle East conflict escalates, supporting gold prices

↓

Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European equities pressured by energy cost concerns and geopolitical uncertainty

⇅

Euro / US Dollar

EURUSDCurrency

High volatility expected

Safe-haven flows and energy cost implications create volatility in EUR/USD pair

↓

10-Year Treasury Yield

^TNXBond

Expected to decline

Flight-to-safety demand supports bond prices as risk sentiment deteriorates

PRICE HISTORY

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⚡ SUGGESTED ACTION

Buy crude oil (CL=F) and gold (GC=F) as safe-haven plays; reduce exposure to European equities and energy-dependent sectors. Monitor oil price levels above $80/barrel for sustained upside momentum.

KEY SIGNALS

Escalating Middle East military conflictIranian oil supply disruptionGeopolitical risk premium expansionSafe-haven asset demand increaseUS-UK diplomatic tensions

SECTORS INVOLVED

EnergyDefenseUtilitiesTransportation

Analysis generated on Mar 09, 2026 at 16:50 UTC

Disclaimer: This analysis is generated by artificial intelligence for informational purposes only and does not constitute financial advice, investment recommendation, or solicitation. Original reporting by City AM. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Israel expands strikes on Iranian oil as Trump hits out at Starmer

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