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GAS OIL Crude oil prices posted their highest weekly gain since 2022. Prices surged following Israel’s attack on Iranian nuclear facilities, triggered by concerns over Iran’s ongoing nuclear development. This strike heightened fears of broader supply disruptions in the Middle East, a region critical to global oil production. Before the attack, oil contracts had been gradually rising, supported by positive progress in U.S.-China trade talks earlier in the week. Additionally, U.S. crude inventories dropped by 3.6 million barrels, exceeding the expected 2 million barrel decline, further reinforcing the bullish sentiment. As a result, Brent crude rallied by about 12% for the week, settling at $74.23 a barrel. June 16, 2025 50658095110Q3 25Q4 25Q1 26Win25Sum26Win26p/thermChange in Gas Prices06.06.2513.06.25626466687072747606.06.2509.06.2510.06.2511.06.2512.06.2513.06.25$/bblBrentBritish near-term gas prices increased sharply over the week, mainly amid maintenance at Norwegian gas facilities and US LNG terminals. Summer maintenance in Norway is increasing, leading to tighter supplies in the coming weeks. US LNG exports are also dropping due to maintenance, with Sabine Pass nominations hitting two-year lows and reducing total US exports by around 10%. As a result, NBP spot surged by over 6% for the week, ending at 91 p/therm. Along the forward curve, the gas price for Win-25 delivery spiked by over 5% for the week, closing at 100.69 p/therm after Israel’s attack on Iranian nuclear sites, shifting focus to the Strait of Hormuz a crucial passage for nearly all of —Qatar’s LNG exports.