2026-03-07 13:24
publication
2026-03-07 13:24
Minister of Finance and Economy Andrzej Domański sees potential consequences for the economy due to large increases in oil and gas prices. In a statement for PAP Biznes, he says that the Polish government is prepared for any scenario.
“We are constantly analyzing developments in terms of their impact on the economic situation in Poland. Fortunately, our sources of oil and gas supplies are diversified, and we also have extensive infrastructure that allows us to feel safe,” Minister Andrzej Domański told PAP Business.
“We see big increases in the oil and gas markets, so I see potential consequences for the economy,” he added.
In his opinion, the key question that the markets want to know the answer to, for example in terms of security of hydrocarbon supplies, is how long this conflict will be.
“We analyze various scenarios, we are prepared for each one,” said Andrzej Domański.
The oil and gas market has continued to rally strongly since the outbreak of the United States and Israel's war with Iran. WTI crude oil rose by over 11.6% on Friday, breaking the level of $90 per barrel. Brent crude oil is quoted at $92.6 per barrel, after an increase of 8.4%. When the war broke out, oil was below $70 per barrel.
Benchmark gas contracts in Amsterdam (ICE Endex Dutch TTF) rose by around 50% during the week.
Israel and the US's war on Iran, which has spread across the region, is in its eighth day, and energy trade disruptions have raised fears of intense competition for supplies and stronger inflationary pressures, particularly in Europe. (PAP Business)
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