Morning Call Morning Call 3/30/26
Mar 30, 2026
Frank Capillari, technical analyst and chart-based trader, and Toby Rice, CEO of EQT and U.S. natural gas leader. They dig into market technicals and sector positioning. They also explore U.S. natural gas versus global LNG, export dynamics, and the infrastructure and permitting challenges shaping energy flows.
AI Snips
Chapters
Transcript
Episode notes
Oil Spike Is Repricing Global Markets
- Oil and Middle East tensions are driving broad market moves, pushing the Dow into correction territory and lifting WTI toward $100 and Brent toward $115 per barrel.
- The spike has raised inflation expectations, pushed 10-year yields to ~4.4%, and pressured Asian currencies like the yen near ¥160, stoking talk of FX intervention.
Regional Conflict Is Reshaping Commodity Winners And Losers
- The Iran war and Houthi involvement threaten shipping lanes, tightening oil and aluminum supplies and lifting commodity prices and related stocks like Alcoa.
- Markets reacted globally with European utilities and resources rallying while travel and autos lag amid Middle East risk.
Asia Feels Energy Shock Differently Than US
- Asian markets closed deep in the red as Brent at ~$115 heightened inflation and energy‑security worries, with Japan hit hard by yen volatility near 160 per dollar.
- Shanghai outperformed slightly on oil and aluminum names, while Hong Kong and Shenzhen fell.