IEA delivers grim gas supply forecast as oil notches 15% weekly rise
A wave of new LNG supplies will be delayed for at least two years due to war-related damage to Qatari energy infrastructure, according the International Energy Agency's latest market update.
A wave of new global gas supplies expected to start coming online in 2026 will be delayed for at least two years due to damage inflicted on Qatari energy infrastructure during the US-Israel-Iran war.
That’s a key finding from the International Energy Agency’s latest quarterly gas report, released April 24, further laying bare the scale of the disruption caused by the conflict’s historic supply shock.
The agency’s forecast arrives as oil and gas markets remain under severe pressure amid ambiguity about the war’s trajectory. International benchmark Brent crude was trading at $106.04 as of 11:20 a.m. EDT on Friday — on track for a roughly 15% weekly gain as the war approaches the two-month mark.
These gains have gathered pace in recent days after President Donald Trump on Tuesday extended a two-week US ceasefire with Iran, citing divisions within Tehran’s leadership, but left its duration open-ended pending a “unified proposal” to end hostilities.
