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March 16, 2026

GAS

British near-term gas prices pulled back amid a market Change in Gas Prices
correction, though volatility and sensitivity to news 150
headlines persist. However, the next couple of days’ demand 135
for domestic heating is likely to remain soft with milder 120
105
temperatures limiting demand. As a result, NBP spot shed by 90
over 5% for the week, ending at 126 p/therm. p/therm 75
60
45
Along the forward curve, the gas price for Sum-26 delivery 30
fell by 3.5% for the week, closing at 122.47 p/therm. The 15
0
supply situation remains stable, supported by robust
Norwegian imports and regular LNG arrivals meeting current Q2 26 Q3 26 Q4 26 Sum26 Win26 Sum27
06.03.2026 13.03.2026
demand levels.

OIL

Crude oil prices rose for a second straight week, pushing
Brent to its highest level since summer 2022 amid Brent
continuous escalations in the Middle East and fears of the 110
global supply situation.
100
The Strait of Hormuz remains a key chokepoint.
Governments are acting to stabilize markets: the IEA plans 90
a 400 million-barrel coordinated release, the U.S. will $/bbl
contribute 172 million barrels and allow temporary Russian 80
oil purchases and may escort ships through the strait if
needed. Despite these measures, escalation risks continue 70
to pressure energy markets.
60
06.03.26 09.03.26 10.03.26 11.03.26 12.03.26 13.03.26
Consequently, Brent crude spiked by over 11% to settle at
$103.14 a barrel.