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‘No country will be immune’: Starmer to chair Cobra meeting as energy crisis rattles markets

Global markets were rocked on Monday by the latest escalations in the conflict in the Middle East, which have led to Sir Keir Starmer calling an emergency meeting on the brewing energy crisis. Brent crude – the international benchmark for oil prices – jumped to $112 in Asian markets trading before paring back to around [...]

Mar 23, 2026 &03012323202631; 08:01 UTC www.cityam.com Trending 3/5

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Negative for markets

Sentiment score: -35/100

High impact Immediate effect (hours)

WHAT THIS MEANS

Middle East escalation triggered emergency energy crisis response from UK PM Starmer, with Brent crude spiking to $112/barrel in Asian trading before retreating. Global markets face potential supply disruption risks amid geopolitical tensions, though the pullback suggests some stabilization.

AI CONFIDENCE

72% High

SENTIMENT GAUGE

NEWS POWER SCORE

AFFECTED ASSETS

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Oil (WTI Crude)

CL=FCommodity

High volatility expected

Brent crude spiked to $112 on Middle East escalation; retreat suggests volatility rather than sustained uptrend

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Euro / US Dollar

EURUSDCurrency

Expected to decline

Energy crisis and geopolitical risk typically weaken EUR relative to safe-haven USD

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Euro Stoxx 50

^STOXX50EIndex

Expected to decline

European equities vulnerable to energy supply disruption and stagflation concerns

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S&P 500

^GSPCIndex

High volatility expected

US markets face mixed signals: energy stocks benefit from higher oil, but broader economy faces inflation/recession risk

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10-Year Treasury Yield

^TNXBond

Expected to rise

Flight-to-safety demand and inflation expectations from energy crisis support bond yields

PRICE HISTORY

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⚡ SUGGESTED ACTION

Short European equities and EUR/USD on energy crisis fears; consider long energy sector and defensive plays (utilities, bonds). Monitor oil price action closely—sustained hold above $110 would confirm bearish thesis; break below $105 would suggest panic selling exhausted.

KEY SIGNALS

Geopolitical escalation in Middle EastEmergency government response signals severityOil price spike to $112 indicates supply concernPartial retreat suggests market stabilization attemptEnergy crisis threatens stagflation scenario

SECTORS INVOLVED

EnergyUtilitiesFinancialsConsumer Discretionary

Analysis generated on Mar 23, 2026 at 08:05 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.

‘No country will be immune’: Starmer to chair Cobra meeting as energy crisis rattles markets

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