Brent oil futures for the Front-Month contract on the ICE market reached a weekly settlement high of $92.17/bbl on Monday, August 24. The level was 2.4% lower than the previous Friday’s settlement. Trading moved lower in the subsequent sessions, with prices falling to a weekly low of $87.84/bbl on Wednesday, August 26. In the final two sessions, Brent recovered slightly and stayed above $89/bbl, before settling at $89.31/bbl on Friday, August 28.
US-Iran tensions continued to weigh on the oil market during the week. Maritime traffic through the Strait of Hormuz remained below normal levels even after a proposal for a temporary shipping corridor between Iran and Oman. The uncertainty in the region reversed gains from the prior week and contributed to the decline in Brent futures.
TTF natural gas futures track higher then lower weekly range
TTF natural gas futures for the Front-Month contract on ICE reached a weekly settlement high of €68.32/MWh on Monday, August 24. That was 3.7% above the previous Friday and marked the highest level recorded since January 11, 2023. Prices then declined, reaching a weekly low of €65.63/MWh on Wednesday, August 26. By Friday, August 28, TTF settled at €66.98/MWh, which represented a 1.7% increase versus the previous Friday.
European gas storage facilities ended August with inventories at around 65% of total capacity. The relatively high storage level, alongside ongoing geopolitical tensions around the Strait of Hormuz, supported TTF prices above €65/MWh throughout the week.
EEX CO2 allowance December 2026 contract ends near €83/t
CO2 emission allowance futures for the December 2026 reference contract traded on EEX reached a weekly settlement high of €84.43/t on Tuesday, August 25. This was the highest level since July 23. During the final three trading sessions, prices stayed below €83/t, falling to a weekly low of €82.42/t on Thursday, August 27.
The settlement price on Friday, August 28 was €82.74/t, virtually unchanged from the previous Friday, AleaSoft reports .
