GLEG UK Energy Market Update…
March 30, 2026
It’s been another volatile week across energy markets, with geopolitical developments continuing to drive short-term price movements.
Oil markets remained highly reactive throughout the week. Ongoing tensions in the Middle East, particularly involving Iran, pushed Brent crude to highs of around $118 per barrel, before easing back towards $101 following signals that the US may step back from further military action. The overall picture remains uncertain, with prices responding quickly to changing headlines.
Gas markets followed a similar pattern. Prices moved both up and down over the week, influenced by shifting sentiment, milder weather and the start of the storage injection season. While there has been some short-term easing, European storage levels remain low at around 28%, leaving the market sensitive to any disruption in global LNG supply.
Electricity prices were largely driven by fundamentals. Variability in wind generation and changes in nuclear availability led to sharp day-to-day movements across European markets, highlighting just how dependent power prices remain on weather conditions and generation mix.
Carbon markets edged higher overall, supported by ongoing uncertainty around EU policy and supply mechanisms. While movements were more measured compared to other commodities, carbon pricing continues to play an important role in shaping forward energy costs.
Overall, this week reinforces a consistent theme – energy markets remain unpredictable. For businesses, staying informed and taking a proactive, strategic approach to energy has never been more important.
At GLEG, we help energy users navigate this volatility with structured hedging and disciplined procurement strategies. For more detailed updates please feel free to contact hello@gleg.co.uk.