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GAS OIL Oil prices snapped a six-week winning streak last week. Crude was weighed down by lower geopolitical risk premiums as U.S. Iran tensions eased and concerns about –oversupply resurfaced. Temporary support from inventory draws and intermittent Middle East tensions was offset by diplomatic progress between Washington and Tehran and a stronger U.S. dollar, leaving prices weaker overall. Consequently, Brent crude dropped by about 4% for the week, settling at $68.05 a barrel. February 9, 2026 -105203550658095110Q2 26Q3 26Q4 26Sum26Win26Sum27p/thermChange in Gas Prices30.01.202606.02.202664656667686970717230.01.2602.02.2603.02.2704.02.2805.02.2906.02.30$/bblBrentBritish near-term gas prices plummeted over the week, impacted by milder weather forecasts reducing cold spell ‑risk, easing LDZ and gas-for-power demand, slightly lower LNG sendout, and higher Norwegian flows. Market sentiment was also tempered by slower long-position builds from investment funds and eased geopolitical risk following early-stage US–Iran talks. As a result, NBP spot slumped by about 13% for the week, closing at 90.50 p/therm. Along the forward curve, the gas price for Sum-26 delivery shed by over 3% for the week, ending at 75.68 p/therm amid reports indicating that the US and Iran will proceed with diplomatic negotiations.