Stock Movers Iran Moves: BP, IAG, Anglo American
Mar 9, 2026
Brent crude rockets past $100 as Middle East output cuts and route closures tighten supply. European airlines face cancellations and soaring fuel costs that reshape routes and margins. Major banks pull back on miners and steel names, issuing downgrades tied to regional conflict risks.
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Middle East Supply Cuts Push Brent Above $100
- Oil prices surged past $100 a barrel as more Middle Eastern producers cut output after storage fills due to the closure of Hormuz.
- Louise Moon cites UAE, Kuwait joining Iraq in cuts and notes Brent moves are lifting BP and Shell and boosting Oslo energy stocks like Equinova Energy.
G7 Talk Of Reserve Releases Eases Some Oil Pressure
- G7 finance ministers plan talks on coordinated reserve releases which slightly tempered the oil rally but haven't signalled de-escalation in the Middle East.
- Louise Moon notes BP and Shell are among the few FTSE 100 risers as markets price sustained supply disruption.
Airlines Suffer From Fuel Spike And Flight Disruptions
- Airlines face compounded headwinds as higher fuel costs join massive operational disruption from the Middle East war with over 27,000 cancelled flights.
- Louise Moon lists IAG, Ryanair, Wizz Air, EasyJet and Air France all sliding amid reroutes and displaced jets.