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% below the previous Friday’s settlement. Prices then fell in subsequent sessions, reaching a weekly low of $87.84/bbl on Wednesday, August 26. In the final two trading sessions, Brent recovered slightly and stayed above $89/bbl.
Persistent tensions between the United States and Iran continued to weigh on the oil market. Maritime traffic through the Strait of Hormuz remained below normal levels despite a proposal for a temporary shipping corridor between Iran and Oman. The uncertainty in the region reversed gains from the previous week and contributed to the decline in Brent futures. On Friday, August 28, Brent settled at $89.31/bbl, 5.4% below the previous Friday’s settlement.
TTF natural gas futures track 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% higher than the previous Friday and marked the highest level since January 11, 2023. Prices declined after Monday and hit a weekly low of €65.63/MWh on Wednesday, August 26.
By Friday, August 28, the settlement price for TTF stood at €66.98/MWh, representing 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 continued geopolitical tensions around the Strait of Hormuz, helped keep TTF gas futures above €65/MWh throughout the week.
EEX CO2 allowance futures end 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.
The contract’s weekly low was €82.42/t on Thursday, August 27. On Friday, August 28, the settlement price was €82.74/t, virtually unchanged from the previous Friday, according to AleaSoft reports.