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GAS OIL Crude oil prices soared, with Brent posting its biggest gain since April 2020 amid rising Middle East tensions that disrupted global fuel supplies. The conflict has disrupted global shipping, with traffic through the Strait of Hormuz constrained. Many tankers are avoiding the Persian Gulf and rerouting via the Red Sea, limiting flows from a waterway that normally carries about 20% of the world’s oil and putting upward pressure on prices. Consequently, Brent crude jumped by 28% for the week, settling at $92.69 a barrel. March 9, 2026 -105203550658095110Q2 26Q3 26Q4 26Sum26Win26Sum27p/thermChange in Gas Prices27.02.202606.03.2026606570758085909527.02.2602.03.2603.03.2604.03.2605.03.2606.03.26$/bblBrentBritish near-term gas prices rocketed for the week, the ongoing conflict in the Middle East continuing to exert a strong upward pressure on gas contracts. Disruptions to shipping through the Strait of Hormuz continue to dominate market sentiment, with over 150 LNG and crude oil vessels reportedly anchored in the area. Iran’s threats against passing ships have further heightened concerns in both gas and oil markets. As a result, NBP spot spiked by over 67% for the week, ending at 133.25 p/therm. Along the forward curve, the gas price for Sum-26 delivery rallied by over 65% for the week, closing at 126.86 p/therm as the Strait of Hormuz remained effectively closed.