Market View: Oil’s 70% surge – Are markets entering correction territory?

Your Way Home with Hongbin Jeong · Mar 9, 2026 · 8m

Oil is front and centre today, with prices surging past US$100 a barrel. If listeners remember, we began 2026 with oil trading below US$60, marking a rapid jump of roughly 70% in just a few months. The sharp move higher has rattled markets, with equities broadly seeing a sea of red as investors grapple with the implications of higher energy prices. This also raises a key question for markets: are we now moving beyond a typical pullback of 5 to 10%, and entering a full correction territory of more than 10%? On Market View, Alexandra Parada speaks to Nirgunan Tiruchelvam, Head of Consumer and…