Wake Up to Money Energy price surge
Mar 9, 2026
Adam Bell, partner at Stonehaven and former government energy adviser, explains supplier solvency, UK gas resilience and limits of North Sea output. Gavin Thompson, Vice Chairman at Wood Mackenzie, offers data-driven take on supply disruptions, why Brent spiked and inflation risks. They discuss market volatility, geopolitical escalation and impacts on mortgages and exporters in short, sharp bursts.
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Oil Shock Looks Likely To Be Prolonged
- Markets moved from pricing a short supply hiccup to fearing a prolonged Middle East disruption that could lift oil and refined product prices for months.
- Gavin Thompson cites halted projects in Iraq and curtailed UAE output plus threat to Strait of Hormuz as drivers of durable price tension.
Energy Spike Can Reverse Rate Easing
- Rising oil and gas feed quickly into inflation and can force central banks to keep interest rates higher for longer.
- Gavin Thompson warns this can reverse the recent easing in rates and undo progress central banks made against inflation.
Prepare For Higher Mortgage Costs
- Expect mortgage costs to stay elevated if bond yields rise because mortgages track government bond yields.
- Sophie Hoon explains higher oil-driven inflation raises inflation expectations, discouraging central banks from cutting rates.