Strait talking: Energy markets rocked as conflict intensifies

直言不讳:随着冲突加剧,能源市场动荡不安。

World Business Report

2026-03-04

8 分钟
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Natural gas prices spike in Europe after Qatar closes its LNG base. Meanwhile the Strait of Hormuz closure sends crude oil higher and its importance in the shipment of fertiliser ingredients could have major effects on global crop production this year, the boss of Yara says
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  • This BBC podcast is supported by ads outside the UK.

  • All this week on the Global Story podcast,

  • we're looking at the Iran war and the shockwaves now reshaping the Middle East.

  • With the BBC's expert reporters from Israel to the Gulf states to the streets of Tehran itself,

  • we'll ask how this conflict is radically redrawing the region's balance of power.

  • We'll examine the case the Trump administration is making for war and ask whether this marks a new era of American intervention.

  • What comes next for the people of Iran, for the Trump presidency and for the...

  • entire Middle East.

  • The U.S.-Israel war in Iran, all week on The Global Story.

  • Listen on BBC.com or wherever you get your podcasts.

  • How energy price rises will hit Asia and Europe and how food prices could go up as fertiliser shipments get caught up in the conflict.

  • It's day four now of the US-Israel war with Iran in the last couple of hours.

  • The US is warning of an imminent attack in the Saudi city of Dharan,

  • a major centre for the oil industry,

  • and Israel has sent soldiers into southern Lebanon as its clash with Iran-backed Hezbollah intensifies.

  • With all this and as US President Donald Trump raises the prospect of a prolonged conflict,

  • the financial markets are reacting badly.

  • Fiona Sincotta is senior market analyst at City Index.

  • Fiona, let's look at the global indices first.

  • Where are we at?