Brent crude oil futures for the front-month contract on the ICE market reached their weekly high of $64.89 per barrel on Monday, November 3, which was already 0.3 percent lower than the closing price of the previous week. Prices continued to decline until Thursday, November 6, when they hit the weekly low of $63.38 per barrel. On Friday, November 7, the settlement price slightly recovered to $63.63 per barrel, still 2.2 percent below the previous Friday’s level.
The price drop during the first week of November was driven by OPEC+ decisions made on Sunday, November 2, to increase oil production in December while freezing further output hikes during the first quarter of 2026. Additionally, a rise in U.S. crude inventories added downward pressure on Brent prices.
For TTF natural gas futures in the ICE market for the front-month contract, the weekly peak was reached on Tuesday, November 4, at €32.55/MWh. Prices then declined, ending the week at €31.20/MWh on Friday, November 7, still 0.3 percent higher than the previous Friday. The abundant supply of liquefied natural gas kept TTF prices below €32/MWh for most of the week.
As for CO2 emission allowance futures in the EEX market for the December 2025 reference contract, settlement prices stayed above €80 per ton during most of the week except Friday. On Tuesday, November 4, prices reached a weekly high of €82.31 per ton, the highest since February 12. By Friday, November 7, the price dropped to €79.49 per ton, which was still 1.2 percent higher than the previous Friday, AleaSoft reports.
