Daily Digest — 28 Mar 2026

Oil markets surged 5.5% to nearly $100 per barrel as the month-long US-Israeli conflict with Iran shows no signs of abating, with Yemen’s Houthis launching their first strikes on Israel since the war began. The escalation has oil industry executives warning of prolonged supply disruptions, contradicting Trump administration claims that any impact would be short-term. Air strikes in Iraq killed five security personnel as the conflict spreads across the Middle East, raising fears that the vital Red Sea shipping lane could join the disruption.

Safe haven assets rallied sharply on the geopolitical tensions, with gold climbing 2.6% to \(4,524 and silver gaining 2.7%. Bitcoin held steady around \)66,300 as crypto markets remained relatively insulated from the Middle East turmoil. The dollar strengthened against major currencies, with the euro falling to \(1.15 and the pound dropping to \)1.33 as investors sought safety.

In the UK, Conservative leader Kemi Badenoch faced criticism for pushing North Sea drilling expansion amid the energy crisis, while half a million protesters marched through London against the far right. Ukraine signed a new defense pact with Qatar, expanding President Zelensky’s Gulf alliances as the Russia war continues. Meanwhile, prediction market platform Kalshi secured licensing for institutional margin trading even as Washington state sued the company over alleged gambling violations.