Energy prices up, markets down
3/3/202626 min
The US attack on Iran has muddled expectations for the year, especially in energy markets. Today on the show, US energy editor Jamie Smyth joins Katie Martin and Rob Armstrong to talk about Tehran’s counterattacks on US allies including Kuwait, Saudi Arabia and the United Arab Emirates. Also, they go short private assets and long UK pastry chain Greggs.
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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsKatie Martin· Host0:00
[intro music] Pushkin. We have war in the Middle East again, Operation Epic Fury. Now this time after a slow burn, it's doing some real damage to markets, which suggests some real damage ahead to the global economy, or perhaps more accurately, to the economies of Europe and Asia. Now, before you email us to tell us we're terrible people, no, we don't think markets are the most important thing about the bombing of Iran by the US and Israel, or about Iran's retaliation that's affecting other countries in the region. [upbeat music] People are dying, it's grim, and we're not monsters. But the reality is that the economic impact on the world from what happens in the Middle East really matters, too. Now, on this podcast, we know what we don't know, so we're leaving the geopolitics to wiser colleagues. Today on the show, we're picking apart the hit to markets and why it all matters. This is Unhedged, the markets and finance podcast from the Financial Times and Pushkin. I'm Katie Martin, a markets columnist at FT Towers in London, and I'm joined down the line all the way from New York City, yes, by the big guy, Robert Armstrong of the Unhedged newsletter. Say hello, Rob.
Robert Armstrong· Host1:19
Hi, guys.
Katie Martin· Host1:20
But I'm also joined, back by popular demand, we have Jamie Smith, FT oil nerd, to tell us what's really going on. Hi, Jamie.
Jamie Smyth· Guest1:29
Hello, Katie.