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Author: ICIS Energy

ICIS is the expert provider of wholesale energy prices and market information for the global energy markets. To find out more about our coverage, download the latest energy white papers and analysis, visit us at www.icis.com/energy
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Episode 441: War, energy shocks and what comes next
Episode 441
Tuesday, 24 March, 2026

Energy markets were jolted into crisis after war erupted in the Middle East on 28 February, abruptly ending expectations of a calm year marked by abundant oil and gas supply and falling prices.As the conflict escalated, energy infrastructure across the Gulf came under attack and shipping through the Strait of Hormuz ground to a halt amid sharply rising security risks.Oil and gas prices have since doubled, while market volatility remains exceptionally high. Key questions now loom large. How will European policymakers respond? At what point will sustained high prices begin to trigger meaningful oil and gas demand destruction in Asia?To answer all these, senior journalist Aura Sabadus has invited ICIS global LNG editor Ed Cox, crude oil editor Barney Gray and head of gas analytics Andreas Schroeder for a forward-looking discussion.