Current Energy and Oil & Gas News as of February 15, 2026: Dynamics of Brent and WTI Oil, Gas and LNG Market, Electricity and Renewable Energy Sources, Coal, Oil Products, and Refineries. A Global Overview for Investors and Market Participants in the Energy Sector.
The end of the week in commodity markets was marked by a "tug of war" between geopolitical premiums and growing signals of oversupply. Oil prices remained near $68 per barrel for Brent, but the focus has shifted to April: market participants are assessing the likelihood of a revival in OPEC+ production growth and the impact of expanded operations in Venezuela for international players. In the gas market, Europe remains sensitive to weather conditions and hydrological balance: a deficit in snow cover in the Alpine region is increasing gas generation and sustaining import demand.
- Oil: Brent and WTI ended the day with slight increases, but with weekly losses; the key catalyst has been expectations regarding OPEC+ and the escalating theme of supply.
- Gas: American Henry Hub stabilized at around $3+ per MMBtu after extreme volatility in January; in Europe, TTF pulled back, but energy balance risks remain.
- Oil Products: European ICE gasoil showed a noticeable decline on the lows; premiums and margins remain volatile amid refinery repairs and seasonal demand restructuring.
- Coal and Electricity: ARA coal strengthened, while German baseload electricity (futures) went lower by the end of the day.
Key Price Indicators
Below is a "showcase" for investors and market participants in the energy sector: oil, gas hubs, oil products, coal, and electricity. All changes are calculated as the difference between the closing price on February 13, 2026, compared to the closing on February 12, 2026, for the relevant indicators (where available).
| Indicator | Region/Platform | Unit | Closing (February 13, 2026) | Daily Change | Daily Change, % |
|---|---|---|---|---|---|
| Brent (front-month) | Global export benchmark | USD/barrel | 67.75 | +0.23 | +0.34% |
| WTI (front-month) | USA, NYMEX | USD/barrel | 62.89 | +0.05 | +0.08% |
| Henry Hub (NYMEX nat gas, front-month) | USA, key gas hub | USD/MMBtu | 3.243 | +0.026 | +0.81% |
| TTF (ICE Dutch TTF, front-month) | Europe, gas hub | EUR/MWh | 32.500 | -0.494 | -1.50% |
| ICE Gasoil (London Gas Oil) | Europe, diesel/gasoil | USD/ton | 672.50 | -25.75 | -3.69% |
| Coal ARA (Rotterdam Coal) | Europe, ARA (proxy for API2 logic) | USD/ton | 104.85 | +1.55 | +1.50% |
| Electricity Germany (Baseload month) | Europe, futures | EUR/MWh | 101.22 | -2.95 | -2.83% |
Oil: Supply and Demand Balance Back in Focus
For the oil market, the week has served as a "mode switch": geopolitical premium (primarily surrounding U.S.–Iran tensions) continues to support prices, but supply risks have begun to dominate the news flow. Sources indicate that some participants of OPEC+ are inclined to return to planned production increases by April—this decision is being discussed against expectations of seasonal demand strengthening in spring and summer. For investors, this implies a rising likelihood of a soft surplus in the second quarter and increased sensitivity of oil to inventory and export data.
Concurrently, international forecasters are strengthening the bearish narrative: the IEA has lowered its growth estimate for global oil demand in 2026 while simultaneously noting a structural gap between expected supply and consumption. Within this framework, any additional flow—from OPEC+ or from sanctioned regimes—is perceived as a factor shifting the curve toward contango and pressuring spreads.
- Fundamentals: the market is processing simultaneous signals of "lower demand" and "greater potential supply."
- Supply Risks: discussion of OPEC+ resuming production growth and increasing Venezuela's capacities through changes in access for international companies.
- Short-Term Horizon: next week, key developments will revolve around statements from OPEC+ and the dynamics of oil inventories/refining in the U.S.
Gas and LNG: Europe Remains Weather-Dependent, U.S. Prices Return to More Normal Levels
The gas market is diverging across regions. In the U.S., Henry Hub is returning to values closer to mid-term balance projections—following a January cold wave when futures and spot prices exhibited extreme spikes. For fuel companies and gas consumers, this appears as a transition from "force majeure" demand to a calibration mode of stocks and production.
In Europe, TTF decreased by the end of the day, although fundamental nervousness persists: the weather factor is shifting not only through temperature but also via hydrology. Low snow cover in parts of the Alpine region implies weak hydro generation and increased gas draw for electricity generation, which directly affects the filling and unloading rates of storage facilities and premiums for spot supplies. For the global LNG market, this connection increases the significance of short-term changes in flows and vessel availability.
As of February 15, 2026: detailed data on European UGS loading and JKM/TTF spreads are not disclosed in this publication (no confirmed public numbers from available primary sources), therefore the assessment is based on the overall trend in gas generation demand and hub volatility.
Oil Products and Refineries: Diesel Margins Weakening, But Repairs Support Margins
The oil products markets ended the week with a decline in European gasoil, indicating a swift revision of expectations in the middle distillate segment. However, for refineries and fuel companies, the key parameter is not so much the futures level but rather crack spreads, regional premiums, and the availability of feedstock. Here, two countervailing processes complicate the picture: seasonal refinery repairs reduce oil product supply, while waning demand outside peak heating/transportation windows lowers price support.
In the U.S., a significant corporate signal has been the focus on Venezuelan crude: relaxing access regulations raises the likelihood of increased imports of heavy grades to optimize the refining basket at American refineries. For arbitrage opportunities, this signals potential reallocation of flows: some barrels that previously headed to other directions may be redirected to the Atlantic, impacting freight and differentials.
- For Refineries: risk is from "flat" prices on oil products amidst expensive feedstock; support comes from competitor repairs and logistical restrictions.
- For Trading: focus is on diesel/gasoil, regional spreads, and freight costs on product tankers.
- For Investors: the role of guidance on margins and throughput from public refiners is increasing.
Sanctions and Geopolitics: Russia, Iran, and Venezuela Shape the Energy "Political Premium"
Geopolitics is once again a component in pricing: tensions in the Middle East surrounding the U.S.–Iran situation are supporting the risk premium for oil and increasing the "price" of potential disruptions. At the same time, the sanctions agenda in Europe is shifting from price restrictions to logistics—with discussions taking place regarding the strengthening of maritime restrictions on Russian oil and expanding the sanctions scope to third-country infrastructure and ports. This directly affects transportation and insurance costs and heightens the role of "grey" supply chains.
On the other end of the spectrum is Venezuela: the expansion of access for international players opens avenues for accelerating production and investment, but operational details (licenses, payment mechanisms, bank compliance) will determine the pace of actual growth. Thus, the oil market in the coming weeks will trade not solely on current inventories but also on the quality of political signals.
Energy and Renewable Sources: Policies Alter Curves, Electricity Reflects Nervousness in the Balance
The renewable energy sector continues to broaden its investment base, although policy is becoming more differentiated. The UK has recorded a historic volume of support for solar projects in another auction, emphasizing the focus on scalable low-carbon technologies. France, in contrast, has revised its energy strategy parameters, reducing targets for wind and solar while augmenting the role of nuclear generation; for European energy, this implies a more complex trajectory for network development, storage, and balancing capacities.
At the price level, German electricity (futures) declined by the end of the day, appearing as a reaction to short-term normalization of balance expectations; however, fundamentally European energy remains sensitive to gas, weather, and the availability of low-carbon generation.
Brief Forecast for the Coming Days (February 15–20, 2026): the baseline scenario indicates oil trading within a corridor where the upper limit is constrained by expectations of supply growth and the lower end is protected by geopolitical premiums. Gas in Europe will remain a "weather deal," while the key intrigue for oil products will be the resilience of diesel spreads amid refinery repairs.
- What to watch for investors: signals from OPEC+ (ahead of the March 1, 2026 meeting), practical details from Venezuela (licenses and export flows), and dynamics of the EU/G7 sanctions agenda and U.S.–Iran risks.
- What to watch for market participants: arbitrages in raw materials and oil products, logistics of supplies, premiums to gas hubs, and pressure on gas generation in Europe.
Material prepared in an expository form for the audience of investors and market participants: oil, gas, energy, renewable energy, coal, oil products, refineries, and fuel companies. If specific figures or corporate details are missing from open primary sources, they are marked as unavailable as of February 15, 2026.
