Gas Oil Prices

30-01-2026 - Over the past month, the price of Gas Oil has seen a notable increase, climbing from $628.75/t to $713.75/t. This rise suggests strong demand or possible supply constraints in the raw material market. The forecast predicts a further increase to $722.5/t, a 1.2% rise from the current price of $713.75/t, indicating a general upward trend. However, there is a risk of market fluctuations affecting raw material prices.

The current forecast presents mixed signals. Technical data points to upward price pressure on raw materials, with a significant impact of $22.0/t, influenced by Futures Curve and Calendar Effects. Conversely, data on Demand, Flows, and Supply suggests downward pressure, with a combined impact of -$5.5/t.

The Energy Market Update from Shipley Energy, published in January 2026, offers a bearish outlook for crude oil prices in 2026. Both UBS and Goldman Sachs foresee a significant supply surplus due to non-OPEC growth and potential OPEC+ production increases, which could drive prices down amid weak demand growth. UBS projects Brent crude to average around $62 per barrel in 2026, with potential lows near $60 per barrel early in the year. This bearish sentiment suggests a possible decline in crude oil prices, which could similarly affect the ICE Gas Oil market. This external analysis contrasts with the forecasted increase in the ICE Gas Oil market.