Daily market report Tuesday 31 March

Prices remain rangebound amid continued geopolitical uncertainty.

Gas and power

Power and gas prices eased slightly yesterday but largely remained within the prior session’s range, with the exception of front‑month power, which gained support from notable improvements in near‑term temperature and wind‑generation forecasts. Market sentiment stayed cautious amid conflicting signals from the Middle East, with investors closely monitoring headlines regarding the status of negotiations. Some positive sentiment emerged late in the day following reports that the US Golden Pass LNG facility had achieved LNG production from the first of its three trains. 

Adjacent markets

US equities rebounded in choppy trading after the previous session’s sharp selloff, supported by comments from Donald Trump on US–Iran talks despite ongoing tensions in the Middle East. The move appears largely technical, with many sectors in oversold territory driving short-term buying rather than a shift in fundamentals. Gold prices rose for a second consecutive session as safe-haven demand picked up, although gains were capped by persistent inflation concerns and expectations of higher global interest rates.