Energy Market Update 17/03/2026

Welcome to our weekly energy market update, where we share the latest trends, shifts, and key developments impacting the energy sector. Whether it’s fluctuations in oil and gas prices, changes in renewable energy policies, or updates on energy infrastructure projects, we’re here to help you stay informed. Join us as we break down the most important factors influencing the market this week, and explore what these changes could mean for your business.

Current Market Drivers:

🔧 Morgan Stanley warns that the previous supply surplus forecasted for 2026 could be erased due to prolonged Qatari output halts. Meanwhile expected delays to QatarEnergy’s North Field East LNG project may postpone a 41% supply increase, prolonging global gas tightness.

⚠️ A continued halt to Qatari LNG production could leave Europe 16 bcm short this year. Alongside Dutch TSO Gasunie’s warning that a six-month disruption could leave the EU 500 TWh short, this has heightened supply concerns and price-spike risks, reinforcing bullish sentiment across European gas markets.

⚡ Europe’s widening data centre power gap and grid bottlenecks are increasing reliance on gas-based onsite generation, raising concerns over future power costs, infrastructure strain, and stronger gas demand across regional energy markets.

🛢️ The European Commission said EU gas storage can still be refilled by next winter without extra measures, reassuring markets that current inventory levels remain manageable amid strong US LNG availability despite ongoing disruption to global LNG flows.

🌍 According to the EC, the EU faces no immediate oil or gas supply risk, helping to calm near-term market concerns despite continued uncertainty around the Strait of Hormuz.

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