Mayhem: oil and equity markets caught off guard by UK election result
Yet more uncertainty will be negative for energy demand and stunt policy
Geopolitical risk and volatility have risen since the UK voted for Brexit in 2016. Now a country once known for its political stability has pulled off another shock. Having called an election to build a big parliamentary majority to back her Brexit plans, prime minister Theresa May failed in the 8 June election, losing seats and emerging deeply wounded. Her Conservative party clings to power, just, but will now depend on sympathetic members of a Northern Irish party. May's personal credibility is shattered. In a speech after the election, the prime minister said: "Let's get to work". But it will be another surprise if the Conservatives let her stay in Downing Street for long. By mid-morning
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
