Gas Market Report, Q2-2026

This edition of the IEA's quarterly Gas Market Report provides a comprehensive review of developments during the 2025/26 heating season and a special spotlight on the effects of the war in the Middle East on international gas markets. Amid the major supply shock caused by the near-closure of the Strait of Hormuz and attacks on regional infrastructure, it examines the conflict’s implications for gas supply and demand at both the regional and global levels. The report also analyses the impacts on storage, shipping, and prices – providing critical insights on evolving market trends.