Energy prices soar, stock markets slide on Iran war falloutOil prices surged and stocks sank after US and Israeli forces began striking Iran at the weekend. (Photo: AFP)LONDON - Oil and gas prices soared, stock markets slid and the US dollar firmed on Monday as the widening Iran war shook financial markets across the globe. European natural gas prices rocketed more than 20% and world crude futures surged around eight percent on fears of disruption to Middle East energy supplies. Asian and European stock markets retreated as much as around 2% as investors exited trades in favour of the dollar and gold, seen as safer bets in times of economic unrest. "If higher oil prices persist, it raises the risk of stickier headline inflation," wrote Saxo Markets' Charu Chanana.

Source: Bangkok Post March 02, 2026 14:12 UTC