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Energy Markets
30.03.2026
Oil prices continued to rise on Friday as doubts persisted over a ceasefire in the Iran conflict. Despite the U.S. delaying action around the Strait of Hormuz, markets remained tense due to ongoing military build-up and possible strikes on Kharg Island. Brent crude climbed 4.2% to $112.57 per barrel, while WTI rose 5.5% to $99.64.
Gas prices moved lower, with the NBP spot contract falling 2% to 134 p/therm. This followed President Trump’s decision to delay potential strikes on Iranian power plants until 6 April, easing immediate concerns about disruptions to Qatar’s LNG infrastructure.
Further along the curve, the Summer 2026 contract slipped 1.6% to 135.54 p/therm. However, supply conditions remained tight, with European gas storage at just 28.4%, the lowest level for this time of year since 2022.
European power prices dropped sharply due to higher renewable output and lower demand. German day-ahead prices fell 32% to 81 EUR/MWh, while French prices dropped 45% to 62.63 EUR/MWh. Carbon markets were stable, with Dec-2026 EUAs holding at 71.67 EUR/tonne ahead of expected policy updates.