Iran War: Global Stocks Fall as Vessel Attacks Lift Oil | The Opening Trade 3/12/2026

Stocks retreated across the world as oil prices kept rising amid widening disruptions to crude transport operations in the Middle East. A gauge of global bonds erased its 2026 advance.

Mounting strain in the private credit market also weighed on sentiment as Morgan Stanley and Cliffwater capped withdrawals from their multibillion-dollar private credit funds. The industry has been hit by a wave of redemption requests amid growing worries over the quality of loans.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Lizzy Burden and Tom Mackenzie.

Chapters:
00:00:00 – The Opening Trade
00:01:29 – Brent Crude Hovers Around $100 Again
00:03:58 – Private Credit Exits
00:06:35 – US Starts Trade Probes
00:08:34 – Adobe Earnings
00:09:23 – Hedge Funds Hit Worst Draw Down Since April
00:10:48 – German Carmakers
00:16:06 – Iran War Impact Deepens
00:23:29 – BMW CEO Oliver Zipse
00:38:48 – Zalando CEO David Schroeder
00:46:41 – Stocks to Watch: Energy, Daimler, BMW
01:04:43 – BMW Stock
01:15:11 – Iran: Truce Depends on US, Israel Pledging Not to Strike
01:27:47 – Oil Price Could Hit $164 in Three Months: Bloomberg Economics
01:33:21 – Europe Gas Prices
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