March 5, 2026–Written by Daniel Graeber for IIR Energy Intelligence (Sugar Land, Texas)–The conflict raging in the Middle East could easily flip the market equation from a surplus to a deficit, the International Energy Agency (IEA) said Thursday.
Regional crude and natural gas prices continued their ascent Thursday, amid escalating tensions in the Middle East triggered by the joint U.S.-Israeli bombing that left Iranian Supreme Leader Ali Khamenei and a handful of top officials dead. The IEA said there was a significant market overhang since last year that was easily expected to spill over to 2026.
