Reuters Morning Bid Q1 and done
Mar 31, 2026
Markets endured a turbulent quarter with geopolitical shocks rattling prices and investor nerves. Oil surged to multi‑year highs while gas prices climbed over $4. Traders digested confusing reports on Middle East movements and watched tightening financial conditions mimic rate hikes. Attention shifts to upcoming US labor data as central banks hold steady.
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Brent's Quarter Echoes 1990 Oil Shock
- Global crude benchmark Brent had one of its largest quarterly rises since the 1990 Kuwait oil shock, signaling a major supply/price jolt this quarter.
- Mike Dolan and Anna Schimansky link that rise to geopolitics from Venezuela to tensions in the Strait of Hormuz, making the move historically notable.
Markets Driven More By Quarter‑End Positioning Than Clarity
- Markets faced conflicting signals as Reuters reported Trump aides expect to end the conflict in four to six weeks while concurrent headlines showed troop deployments and a tanker hit.
- That mix left markets rallying into quarter-end more from positioning than clarity on conflict outcomes.
Gas Above $4 Raises Political And Fed Pressure
- U.S. pump prices topping $4 a gallon add a visible inflation shock for consumers at a politically sensitive moment.
- Anna Schimansky notes this rise coincides with weak job creation and upcoming labor data, complicating Fed decisions.