Iran strikes Qatar's largest LNG export site

Israel continues to increase air strike on Iran overnight. Prime Minister Benjamin Netanyahu says the country’s uranium enrichment capabilities have been destroyed but signals the possibility of a ground invasion. Central banks across Europe defer any possibility of rate cuts with the ECB and BoE warning that the Middle East conflict has blurred the inflation outlook and will push up energy prices. European Council leaders plead for warring parties in the Gulf to cease attacks on key energy facilities as Hungary vetoes a €90bn loan to Ukraine over halted oil shipments. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Iran strikes Qatar’s main LNG facility – one of the world’s biggest – following an Israeli attack on the giant South Pars gas field. President Trump has warned of stern intervention should retaliatory strikes continue. Equities in Europe are back in the red following a two-day winning streak. The Federal Reserve holds rates steady and signalling a single cut to come this year. Chairman Jerome Powell says it is too early to tell what impact the war in Iran could have on inflation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

We hear exclusively from French finance minister Roland Lescure who says his country would be willing to aid the U.S. in securing the Strait of Hormuz but would require the conflict to de-escalate first. UK Chancellor of the Exchequer Rachel Reeves has warned the nation faces the possibility of higher inflation and borrowing costs due to the Iran war but tells CNBC it is on a far stronger footing today to absorb the shocks due to her fiscal reforms. Tehran fires a barrage of missile attacks at Tel Aviv following the killing of Iran’s senior-most security chief Ali Larijani. In the U.S., top counter-terrorism director Joe Kent resigns over the decision to go to war.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump looks to postpone his China trip, saying his focus remains on the conflict in the Middle East. The U.S. leader also hits out at European allies after several reject his demand to help escort tankers through the Strait of Hormuz. And in markets, futures point to a day in the red on Wall Street, with Trump again calling on the Fed to cut rates ahead of its meeting starting today, after the Reserve Bank of Australia fires the starting gun on a week of central bank action by tightening policy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump calls on allies to help secure the Strait of Hormuz with exports through the vital oil chokepoint remaining effectively halted, while European foreign policy chief Kaja Kallas criticizes the U.S. government’s decision to lift some energy sanctions on Russia. Oil prices tick higher as the disruption continues, with traders looking to navigate price volatility. Investors look ahead to a massive week of central bank action, as lenders across the globe grapple with fallout from the conflict in the Middle East. Unicredit launches a bid to raise its stake in Commerzbank above the 30% level but says it doesn’t want to take control of the German lender.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil settles about $100 per barrel for the first time since 2022 after Iran’s new Supreme Leader Mojtaba Khamenei pledges to keep the Strait of Hormuz closed. U.S. Energy Secretary Chris Wright and Treasury Secretary Scott Bessent say the U.S. Navy will be helping to escort tankers out of the Gulf once military conditions are met. The U.S. government has sought to further ease prices by lifting sanctions on Russian oil already in transit. Russia’s ambassador to the United Kingdom, Andrey Kelin, tells CNBC that Russia stands by Iran and that the U.S. and its allies are solely to blame for the Gulf crisis. Rate cut expectations are dampened as concerns over a prolonged conflict send the dollar and yields higher while equities fall into the red.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices have pulled back from $100 a barrel following several attacks on merchant vessels in the Gulf. Two tankers have been reportedly attacked overnight in Iraqi waters. The IEA announces its largest strategic reserve release of 400m barrels but energy markets remain wary. President Trump and the IEA’s Fatih Birol vow to keep oil flowing. The White House launches a probe into several key trading partners including the EU and China which, under section 301, permit tariffs to counter unfair commerce practices. And in autos news, BMW enjoys a Q4 earnings beat despite tariffs affecting its FY guidance.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices swing after the White House says the U.S. Navy did not escort a tanker through the Strait of Hormuz. The denial corrected a now-deleted social media post by Energy Secretary Chris Wright. The IEA reportedly proposes the largest-ever release of oil reserves as the Iran conflict continues to restrict the movement of global supplies. In autos news, Porsche narrowly misses FY sales expectations and says it will now streamline itself, pivoting away from EVs and overhauling its product line-up. Meanwhile, Renault Group CEO, François Provost, tells CNBC he still believes electric cars are the future.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Donald Trump hails the war effort in Iran as ‘very complete’ and has suggested some oil sanctions could be eased to shore up confidence in the market. However, Trump warned Iran could be struck even harder should it attempt to further disrupt supply. G7 energy ministers are set to discuss a potential release of strategic oil reserves. The U.S. is reportedly planning for up to 3-4 million barrels to be made jointly available. Aramco CEO Amin Nasser has warned of ‘catastrophic consequences’ should the conflict continue to disrupt supply. And in autos news, Volkswagen falls short of FY sales expectations but predicts margin improvements in 2026.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Oil prices surge to almost $120bbl overnight before falling back to $108bbl. President Trump says he does not believe the market shock will be prolonged. The G7 reportedly considers a joint release of oil from strategic reserves while reports suggest that Saudi Aramco may offer oil on the spot market. The Nikkei and Kospi lead Asian equity losses while Europe and Wall Street look set for continued sell-off pressure. Iran has chosen Mojtaba Khamenei to succeed his father, Ali, as the country’s Supreme Leader to defy President Trump selection wishes.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.