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Liquefied Natural Gas and Oil: Prices

Asked by Euan StainbankLabourDepartment for Energy Security and Net ZeroTabled Answered 17 March 2026UIN 119003

The question

To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the impact of the escalation of conflict in the Middle East on UK oil and liquefied natural gas prices.

Answered by Michael Shanks

The Department is closely monitoring the ongoing conflict in the Middle East and the impacts for global oil and gas markets. We assess that between February 27th and March 10th, global oil prices (Brent crude) have risen over 20% and gas wholesale prices in Great Britain have risen over 50%.

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