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Bloomberg MarketsUBS' Haefele Says 'Not Seeing Any Panic' Among Clients Over Iran RisksBloomberg MarketsEurope Faced With Near-Empty Gas Tanks Just as War Hits SupplyBloomberg MarketsRetail Investors Are Showing Signs of Fatigue as Stocks FalterBloomberg MarketsLagarde Says ECB Won't Be 'Paralyzed by Hesitation' on IranBloomberg MarketsIran Demands Crew, Cargo Details to Send Ships Through HormuzBloomberg MarketsLanxess Soars as JPMorgan’s Double Upgrade Provides Rare BoostBloomberg MarketsHungary Touts Yuan Swap Line as Orban Seeks Chinese FinancingBloomberg MarketsFosun Resort Chain Club Med Is Said to Consider Hong Kong for IPOBloomberg MarketsTurkey Is Urging Gulf Arab States Not to Join War Against IranBloomberg MarketsSigns of Jet Fuel Hoarding Emerge in Asia on Iran Oil ShockBloomberg MarketsHSBC Sees ‘Explosion’ in Estate Planning Demand as Risks RiseBloomberg MarketsGerman Business Outlook Sinks as Iran Puts Recovery ‘on Ice’Bloomberg MarketsOil Producers Getting Rapid Permits to Revive Old Nigeria WellsBloomberg MarketsIran’s Harder-to-Hunt Long-Range Missiles Taking Greater TollBloomberg MarketsMorgan Stanley Sees More Gains Ahead for Europe’s Energy StocksBloomberg MarketsUBS' Haefele Says 'Not Seeing Any Panic' Among Clients Over Iran RisksBloomberg MarketsEurope Faced With Near-Empty Gas Tanks Just as War Hits SupplyBloomberg MarketsRetail Investors Are Showing Signs of Fatigue as Stocks FalterBloomberg MarketsLagarde Says ECB Won't Be 'Paralyzed by Hesitation' on IranBloomberg MarketsIran Demands Crew, Cargo Details to Send Ships Through HormuzBloomberg MarketsLanxess Soars as JPMorgan’s Double Upgrade Provides Rare BoostBloomberg MarketsHungary Touts Yuan Swap Line as Orban Seeks Chinese FinancingBloomberg MarketsFosun Resort Chain Club Med Is Said to Consider Hong Kong for IPOBloomberg MarketsTurkey Is Urging Gulf Arab States Not to Join War Against IranBloomberg MarketsSigns of Jet Fuel Hoarding Emerge in Asia on Iran Oil ShockBloomberg MarketsHSBC Sees ‘Explosion’ in Estate Planning Demand as Risks RiseBloomberg MarketsGerman Business Outlook Sinks as Iran Puts Recovery ‘on Ice’Bloomberg MarketsOil Producers Getting Rapid Permits to Revive Old Nigeria WellsBloomberg MarketsIran’s Harder-to-Hunt Long-Range Missiles Taking Greater TollBloomberg MarketsMorgan Stanley Sees More Gains Ahead for Europe’s Energy Stocks
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Morgan Stanley Sees More Gains Ahead for Europe’s Energy Stocks

Bloomberg Markets
Wednesday, March 25, 2026 at 8:56 AM
~4 min read
InflationEquitiesEnergy

Original Report

Europe’s energy sector has room to extend its outperformance versus the broader market as investors are only beginning to price in a structural shift in supply risks amid war in the Middle East,...

Europe’s energy sector has room to extend its outperformance versus the broader market as investors are only beginning to price in a structural shift in supply risks amid war in the Middle East, according to analysts at Morgan Stanley.

Glass House Analysis

Inflation is the silent tax that erodes purchasing power, hitting hardest those who can least afford it. When grocery bills rise faster than wages, families face impossible choices between food, medicine, and rent. Unlike market volatility that mainly affects investors, inflation touches everyone who buys groceries, fills a gas tank, or pays rent.

Energy prices affect virtually every aspect of daily life—from commuting costs to heating bills to the price of groceries (which must be transported). For working families, energy represents one of the most volatile and impactful line items in their budgets. Energy policy decisions ripple through the economy, affecting everything from manufacturing competitiveness to household financial stress.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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