Oil and gas prices fell on Tuesday as optimism around potential US–Iran talks improved market sentiment. News that negotiations may resume this week helped ease concerns about tensions after the US blockade of Iranian ports in the Strait of Hormuz. Brent crude dropped 4.6% to $94.79 per barrel, while WTI fell 8% to $91.28 per barrel.

Gas prices also declined, with the NBP spot contract falling 8% to 108.30 p/therm due to expectations of progress in US–Iran discussions. On the forward curve, the Winter 2026 contract dropped 6.4% to 107.55 p/therm, supported by mild weather forecasts that could lower heating demand and boost storage levels.