Oil Prices in Retreat

Oil pulled back on signs that the U.S. may wind down the war without Hormuz disruption.

Author

Ankit Sinha
March 31, 2026

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Market News

Markets Can’t Pick a Direction

Markets swung as investors weighed the economic fallout from the Iran war.

U.S. Treasuries rebounded after a recent selloff, with the 10-year yield falling 9 bps to 4.34%, as traders revived bets the Fed could cut rates in 2026 after Fed Chair Jerome Powell said long-term inflation expectations remain “well anchored.”

U.S. stocks were mixed: the S&P 500 fell 0.4%, the Nasdaq 100 dropped 0.8%, while the Dow remained resilient, closing up roughly 0.1% as losses in chipmakers dragged the broader market lower.

Energy prices surged as the conflict threatened key supply routes, with WTI crude trading around $102–$104 per barrel amid geopolitical tensions.

In currencies, the Bloomberg Dollar Index rose about 0.3%, while the euro hovered near $1.146, the pound weakened, and the yen strengthened toward 160 per dollar. In crypto markets, B*tcoin hovered around $66,496, while Ether gained 1.1% to $2,023.

Global bond yields rose, with UK 10-year yields climbing above 5% and Germany’s hovering around 3.1%, as investors sought safer assets.

Meanwhile, gold rose toward $4,500–$4,560 per ounce, highlighting ongoing demand for safe havens amid volatile markets driven by geopolitical tensions. Analysts say markets are increasingly headline-driven, with investors balancing rising oil prices against expectations that central banks may eventually ease policy if growth slows.

Peel Take: Markets are being pulled in two directions, higher oil and geopolitical stress on one side, and hopes of rate cuts on the other. The result? A whole lot of movement with very little conviction. Right now, investors aren’t really making big bets; they’re just reacting to whatever headline drops next.

What's Ripe

Alcoa Corp. (AA) 8.2%

  • Aluminum stocks rallied after supply fears emerged from the Middle East conflict. Shares jumped 8.2% after reports that two regional aluminum producers suffered damage to their production facilities over the weekend, raising concerns about potential supply disruptions.

  • Other producers also moved higher, with Century Aluminum climbing 7.3% and Kaiser Aluminum edging up 0.1%.

  • Peel Take: When geopolitical conflict threatens commodity supply chains, markets quickly price in scarcity. For aluminum producers outside the affected region, disruption can lead to higher expected prices and a short-term boost to their stock prices.

CrowdStrike Holdings Inc. (CRWD) 2.8%

  • CRWD rose 2.8% to $380.06, rebounding after a sharp selloff on Friday. The move followed a Wolfe Research upgrade to Outperform from Peer Perform, with analysts assigning a $450 price target, signaling confidence in the firm’s growth outlook.

  • Peel Take: Analyst upgrades often act as short-term catalysts, especially after a recent selloff. The higher price target suggests Wolfe sees the dip as overdone, with continued demand for cybersecurity services supporting longer-term upside.

What's Rotten

Sysco Corp. (SYY) 15.3%

  • SYY sank 15% after it agreed to acquire Jetro Restaurant Depot for about $29 billion, including debt.

  • The purchase price values Restaurant Depot at more than 14× its operating income, raising investor concerns about the rich valuation and execution risks tied to the large-scale acquisition.

  • Peel Take: Big acquisitions often promise scale and synergies, but markets tend to punish buyers when the price tag looks steep. With the deal priced at over 14× operating income, investors appear worried the distributor may be overpaying, betting that the promised growth and cost synergies will need to materialize quickly to justify the hefty premium.

Micron Technology Inc. (MU) 9.9%

  • MU sinking 9.9% and Seagate Technology falling 4.6%. The sector came under pressure after Alphabet’s Google unveiled TurboQuant, an artificial-intelligence memory compression algorithm that could significantly reduce the amount of storage needed for AI systems.

  • Peel Take: If AI can store more data with less memory, demand for traditional storage hardware could slow. Investors appear worried that breakthroughs like TurboQuant might compress not just data, but future revenue growth for memory and storage players.

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Banana Brain Teaser

Previous

For each student in a certain class, a teacher adjusted the student’s test score using the formula y = 0.8x + 20, where x is the student’s original test score, and y is the student’s adjusted test score. If the standard deviation of the original test scores of the students in the class was 20, what was the standard deviation of the adjusted test scores of the students in the class?

Answer: 16

Today

If Jake loses 8 pounds, he will weigh twice as much as his sister. Together they now weigh 278 pounds. What is Jake’s present weight, in pounds?

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