UBS On-Air: Market Moves UBS On-Air: Paul Donovan Daily Audio 'War see-saw'
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Mar 17, 2026 Discussion of strikes on UAE energy infrastructure and their impact on oil prices. Carriers pausing flights to the region and the ripple effect on travel and commerce. The US seeking international support amid rising domestic fuel costs. Shifts in global trade dynamics and China’s export strength versus weak domestic demand. Upcoming central bank meetings and policy debates in an uncertain market climate.
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UAE Attacks Reignite Oil Price Risk
- Geopolitical attacks on UAE energy sites have pushed oil prices higher and reignited market volatility.
- Paul Donovan ties UAE missile/drone incidents and halted intercept data to renewed oil-price risk driving a seesaw in markets.
Limited International Naval Support
- International military support for the Gulf appears limited despite US requests, reducing immediate naval reinforcement prospects.
- Donovan notes Trump's pleas have not produced broad support and lists countries that will not send ships in the near term.
US Gas Prices Raise Political Stakes
- Rising US domestic pressures from higher gasoline prices will intensify political and economic costs of the war for the United States.
- Donovan notes US gasoline topped $3.70/gal, making domestic pain a driver of policy and market seesawing.