During the fourth week of June, Brent oil futures on the ICE market moved lower after a temporary peak at the start of the week. The Front Month contract posted a weekly high settlement of $77.90/bbl on Monday, June 22, which was 3.3% below the previous Friday. Prices then fell almost continuously, reaching a weekly low of $71.99/bbl on Friday, June 26. The June 26 level marked an 11% week-on-week decline and the lowest point since February 27, according to AleaSoft Energy Forecasting data.
The oil price drop was linked to higher maritime traffic through the Strait of Hormuz. It also coincided with progress in diplomatic negotiations between the United States and Iran aimed at easing geopolitical tensions. Those developments reduced risk premiums in the crude oil market and supported sustained selling pressure across the week.
TTF natural gas prices soften amid shipping flows
In the gas market, TTF natural gas futures (ICE Front Month) showed moderate weakness during the same period. Prices peaked at €42.01/MWh on June 23, but stayed below €41/MWh for most of the week. The weekly low was recorded on June 25 at €40.41/MWh, the lowest level since April 21. By June 26, prices recovered slightly to €40.78/MWh, still 3.1% lower than the previous week.
Downward pressure on gas prices was also associated with higher shipping flows through the Strait of Hormuz. Relatively low storage levels and firm European demand limited the extent of the decline. As a result, prices remained consistently above the €40/MWh threshold.
EEX December 2026 carbon allowances trade with mild weekly weakness
CO₂ emission allowance futures on EEX for the December 2026 contract followed a more stable but slightly volatile pattern. The weekly low was €76.17/t on June 23 before prices rebounded to a weekly high of €77.52/t on June 24. Toward the end of the week, prices eased slightly but stayed above €77/t.
The contract closed at €77.17/t on June 26, which was 4.2% below the previous Friday’s level. AleaSoft reported that this reflected mild weekly weakness in the carbon market.
