Brent crude oil futures for the front month on ICE reached a weekly peak settlement of $94.25/bbl on Monday, June 8. Prices stayed above $90/bbl until Thursday before dropping sharply toward the end of the week. On Friday, June 12, Brent fell by 3.4% versus the previous day to a weekly minimum settlement of $87.33/bbl. AleaSoft Energy Forecasting said the level was 6.2% lower than the previous Friday and the lowest since March 6.
Middle East developments were a key factor in Brent’s moves during the week. Expectations for a potential peace agreement between the United States and Iran added downward pressure toward the end of the period. Other bearish elements included OPEC+ maintaining production increases in July and weaker-than-expected US inflation data.
Brent drops below $85/bbl after US-Iran agreement announcement
After an announcement on Sunday, June 14, that an agreement would end the conflict between the United States and Iran and reopen the Strait of Hormuz, Brent futures declined further. On Monday, June 15, prices traded below $85/bbl. The official signing of the agreement is expected on Friday, June 19 in Switzerland.
TTF natural gas trends lower after mid-June negotiations update
In parallel, TTF natural gas futures for the front month on ICE mostly traded above €48.50/MWh. The contract peaked at €49.99/MWh on June 10. The weekly minimum was recorded on Friday, June 12 at €46.77/MWh, following a 5.9% daily fall. AleaSoft Energy Forecasting reported that this was 3.6% below the previous week’s closing price.
Geopolitical tensions in the Middle East supported higher gas prices for much of the week. As conflict expectations eased and negotiations between the United States and Iran progressed, prices declined toward the end of the period. After a preliminary agreement was announced, TTF futures dropped further to trade below €44.60/MWh on June 15.
EEX December 2026 CO₂ allowances hold near €77/t
EEX CO₂ emission allowance futures for December 2026 showed comparatively stable trading patterns during the same window . The contract reached a weekly low of €76.17/t on June 9 before rising to a weekly high of €77.52/t on June 10. Prices remained above €77/t for most of the week.
The settlement ended at €77.17/t on June 12, which was 0.3% higher than the previous Friday, according to AleaSoft reports .
