During the fourth week of August, Brent oil futures for the Front Month on the ICE market reached a weekly high settlement price of $68.80/bbl on Monday, August 25. Prices then fell 2.3% on Tuesday, August 26, hitting a weekly low of $67.22/bbl. From August 27 onward, Brent prices rose again, staying above $68/bbl for the remainder of the week, with Friday’s settlement at $68.12/bbl, 0.6% higher than the previous Friday. Price movements were influenced by developments in the Russia–Ukraine conflict, while increased OPEC+ production and expectations of lower demand limited further gains. In the first week of September, Brent prices are expected to be influenced by expectations surrounding the upcoming OPEC+ meeting at the end of the week.
TTF gas futures on the ICE market for the Front Month reached their weekly maximum settlement price of €33.77/MWh on Monday, August 25, before declining to a weekly minimum of €31.56/MWh on Thursday, August 28. On Friday, August 29, the settlement price rose slightly to €31.62/MWh, 5.8% lower than the previous Friday. Despite the weekly decline, the average settlement price was 1.1% higher than the previous week. Reduced gas flows from Norway due to maintenance, combined with low European consumption, contributed to rising reserves. Additionally, ample liquefied natural gas (LNG) availability, supported by weak demand in Asia and Russian LNG exports to China, helped reduce prices.
CO2 emission allowance futures on the EEX market for the December 2025 contract remained above €72/t for most of the week. They dropped to a weekly minimum of €71.74/t on Thursday, August 28, before rebounding to a weekly maximum of €72.97/t on Friday, August 29, a 0.6% increase compared to the previous Friday.
Overall, the fourth week of August saw moderate fluctuations across oil, gas, and CO2 markets, driven by geopolitical events, supply dynamics, and seasonal demand patterns, AleaSoft reports.
