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Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

FTSE 100’s modest retreat suggests investors underestimating inflationary impact if energy prices remain elevatedWas it only at the new year that the fanfare was heard for the FTSE 100 index breaking through 10,000 for the first time? It was – on 2 January – and the index then added another 900 points by the end of February. On Thursday, the Footsie briefly fell below that round number as Iran struck Qatar’s enormous Ras Laffan complex, which normally supplies a fifth of the world’s liquefied natural gas, before closing at 10,063, down 2.3% on the day.There are two ways to view that price action. One is to say the sharp reversal from the peak represents a necessarily severe reaction to the war on Iran. Another is to conclude that a flat year-to-date return, after a bountiful 20% gain in 2025, suggests stock markets have barely begun to take seriously the inflationary impact if the war lasts many more weeks, or even months, and keeps oil above $100 a barrel. Continue reading...

Mar 19, 2026 &03571919202631; 18:57 UTC www.theguardian.com Trending 3/5

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Positive for markets

Sentiment score: +45/100

Moderate impact Short-term (days)

WHAT THIS MEANS

Rule-based L2: BULLISH signal from The Guardian Business

AI CONFIDENCE

60% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Oil (WTI Crude)

CL=FCommodity

Expected to rise

Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

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Natural Gas

NG=FCommodity

Expected to rise

Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

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Dow Jones

^DJIIndex

Expected to rise

Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

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FTSE 100 (London)

^FTSEIndex

Expected to rise

Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

PRICE HISTORY

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⚡ SUGGESTED ACTION

Automated signal: BULLISH on primary asset

Analysis generated on Mar 21, 2026 at 15:37 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 The Guardian Business. Always conduct your own research and consult a qualified financial advisor before making investment decisions.

Markets keep the faith – but oil staying above $100 could test that optimism | Nils Pratley

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