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GAS OIL Oil prices surged over the past week, backed by escalating tensions between the US and Iran in the Strait of Hormuz. Military threats from the US and vessel seizures by Iran, also supported oil prices. As a result, Brent crude jumped more than 16% on Friday, closing at $105.33 per barrel. April 27, 2025 50658095110125Q3 26Q4 26Q1 27Win26Sum27Win27p/thermChange in Gas Prices17.04.2624.04.268085909510010511017.04.2620.04.2621.04.2622.04.2623.04.2624.04.26$/bblBrentBritish wholesale gas prices rose sharply over the week, driven by stalled US-Iran talks that raised concerns on potential global gas supply shortages. As a result, forward gas prices soared over the week, with the Win-26 delivery contract adding 14% to close at 113.15 p/therm on Friday. Similarly, NBP spot jumped by nearly 12% for the week, settling at 110.25 p/therm, on Friday, amid lower Norwegian supply and lower renewable output.