Stable Market Minute - 9th March 2026: Oil Breaches $100

Never miss an important economic release: Download Stable's calendar economic events directly into Outlook or Gmail using our link here

As geopolitical tensions in the Middle East persist, the financial markets remain turbulent. The past week showcased the US dollar's continued strength, largely due to the lack of de-escalation in the region. The price of oil experienced significant fluctuations, initially spiking to $115 per barrel before retreating by nearly 18% following news that G7 nations might release emergency oil reserves. This volatility highlights the unpredictable nature of current market conditions.

Despite a negative non-farm payroll figure on Friday, market reactions were relatively muted. There was only a slight weakening of the dollar by market close, overshadowed by broader economic concerns. Notably, developments such as the spring budget and other economic releases were largely overlooked, as attention remained fixed on geopolitical factors.

In the currency markets, GBP/USD stood at 1.3350, EUR/USD at 1.1550, and GBP/EUR also around 1.1550. Gold maintained a sideways trajectory, trading at approximately $5,100. Economic data this week began with Chinese inflation figures, which rose to 1.3%, surpassing the expected 0.8%. This increase adds to the global inflationary narrative.

Looking ahead, the US is set to release its inflation data on Wednesday, anticipated to remain steady at 2.4% from the previous month. Andrew Bailey's address on Thursday morning, coupled with the US's Q4 GDP and personal spending data, will round out a week of significant economic updates. While these economic indicators are crucial, the market's primary focus remains on the Middle East, with geopolitical events continuing to drive market narratives.

Looking for more insights? Check out Stable's Planning for 2026 guide for more practical tips and actionable analysis to help you get a jump on the year ahead. Download here