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GAS OIL Oil prices fell over the week as expectations of a de-escalation in the Iran conflict weighed on the market, after President Donald Trump signalled that the United States could wind down its military campaign even without a negotiated agreement. This eased fears of prolonged supply disruptions, despite earlier concerns linked to tensions in the Strait of Hormuz, a key transit route for global oil flows. The prospect of a shorter conflict and reduced risk premium ultimately drove prices lower. Consequently, Brent crude fell by over 3% for the week, closing at $109.03 a barrel. April 6, 2026 0153045607590105120135150Q3 26Q4 26Q1 27Win26Sum27Win27p/thermChange in Gas Prices27.03.202602.04.2026909510010511011527.03.2630.03.202631.03.2601.04.262.042627.03.26$/bblBrentBritish near-term gas prices tumbled over the week. Donald Trump appears keen to reach a quick deal with Iran to reopen the Strait of Hormuz, despite his ongoing threats. Moreover, temperatures in the UK are slightly above seasonal averages, while Norwegian flows remain strong. As a result, NBP spot fell by 6.5% for the week, closing at 125.25 p/therm. Along the forward curve, prices saw a steep decline, with Win-26 delivery contract slumping by 9% to 127 p/therm as both the US and Iran signal willingness to engage in peace talks.