In the first week of August, Brent oil Front Month futures on the ICE market reached a weekly high of $68.76 per barrel on Monday, August 4. Settlement prices then followed a downward trend through Thursday, August 7, when they hit the weekly low of $66.43 per barrel, the lowest since June 6. On Friday, August 8, the price slightly increased to $66.59 per barrel, 4.4% lower than the previous Friday. The potential for a peace agreement between Russia and Ukraine, which could boost global oil supplies, put downward pressure on Brent futures, while ongoing trade tensions raised concerns about oil demand, further contributing to the decline.
TTF gas Front Month futures on the ICE market reached their weekly maximum settlement price of €34.41/MWh on Tuesday, August 5, before starting a downward trend. By Friday, August 8, prices hit the weekly minimum of €32.45/MWh, 4.5% lower than the previous Friday and the lowest since July 25. Abundant liquefied natural gas supplies and high flows from Norway supported rising European reserves, favoring lower TTF gas futures, while the potential peace agreement between Russia and Ukraine also contributed to the decline despite the risk of further sanctions if negotiations fail.
CO2 emission allowance futures on the EEX market for the December 2025 reference contract reached their weekly minimum of €70.85/t on Monday, August 4. Most sessions in the first week of August saw prices below €72/t. On Friday, August 8, following a 2.0% increase from the previous day, futures hit the weekly maximum of €73.22/t, 3.0% higher than the previous Friday and the highest level since June 25, AleaSoft reports.
