Coquest

Your Daily Energy Report for March 30, 2026

Posted on 2026-03-30

Crude Oil

Crude Oil futures for May settled up $3.24 or 3.252% at $102.88. Oil prices jumped on Monday as the ongoing conflict in the Middle East continues to disrupt global energy markets, putting the commodity on track for a record monthly surge of over 50% in March. Despite hinting that a resolution to the hostilities could be near, President Donald Trump escalated tensions by threatening to target Iran’s power plants, oil wells, and Kharg Island if the Strait of Hormuz is not immediately "Open for Business." These warnings overshadowed any diplomatic optimism, especially as the deployment of additional US troops and the involvement of Yemen’s Houthis have already intensified the regional standoff. With the war nearly halting traffic through the critical Strait, traders are bracing for further energy price spikes if a formal agreement is not reached soon. This persistent instability in the Persian Gulf remains the primary driver behind the current market volatility and the historic rise in crude prices.

​​​​​Natural Gas

Natural Gas futures for April settled down -$.138 or -4.562% at $2.887. Natural gas prices dropped today as spring-like warmth across the eastern United States dampened the outlook for heating demand. These mild temperatures are expected to persist through mid-April, which analysts believe will lead to a significant expansion of the current storage surplus as the market shifts into the injection season. While the EIA's latest report confirmed a larger-than-expected storage draw, investors are treating this as the final push of winter, focusing instead on the projected transition to a much looser supply-demand balance. On the geopolitical front, President Donald Trump has indicated that a ceasefire in the Middle East is within reach, though he simultaneously threatened to strike Iran’s energy infrastructure if the Strait of Hormuz is not immediately reopened.
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