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GAS OIL Crude oil prices eased modestly last week as renewed diplomatic efforts helped limit immediate geopolitical risks, keeping conflict-related supply concerns contained. At the same time, attention shifted toward softer fundamentals after the International Energy Agency downgraded its 2026 global demand growth forecast and projected a sizeable supply surplus. Expectations of stronger output growth relative to consumption, alongside rising U.S. crude inventories, reinforced a more bearish market tone and weighed on prices. Consequently, Brent crude slipped by 0.4% for the week, closing at $67.75 a barrel. February 16, 2026 -105203550658095110Q2 26Q3 26Q4 26Sum26Win26Sum27p/thermChange in Gas Prices06.02.202613.02.202666.56767.56868.56969.57006.02.2609.02.2610.02.2611.02.2612.02.2613.02.26$/bblBrentBritish near-term gas prices fell sharply over the week, driven down by successive revisions to medium-range weather forecasts that gradually reduced the impact of cold weather. As a result, the NBP spot dropped by around 12% for the week , ending at approximately 80 p/therm. Along the forward curve, the gas price for Sum 26 delivery ‑declined by about 5% over the week, as geopolitical tensions also eased following positive signals from U.S.–Iran talks in Oman.