In the fourth week of September, Brent oil futures for the Front-Month on the ICE market saw their weekly minimum settlement price of $66.57 per barrel on Monday, September 22. Prices rose throughout the week, reaching a weekly maximum settlement of $70.13 per barrel on Friday, September 26. This represented a 5.2% increase compared to the previous Friday and marked the highest level since August 1. The rise in prices was driven by concerns over supply disruptions due to Ukrainian attacks on Russian energy infrastructure and declining U.S. oil reserves. Offsetting these upward pressures, agreements to resume oil exports from Kurdistan and expectations of new production increases at the next OPEC+ meeting could weigh on prices in early October.
TTF gas futures for the Front-Month on the ICE market registered a weekly minimum settlement of €31.84/MWh on Monday, September 22. Prices increased during the week but stayed below €33/MWh, reaching a weekly maximum of €32.70/MWh on Friday, September 26, 1.2% higher than the previous Friday. TTF gas futures remained relatively stable due to abundant liquefied natural gas supplies and high European storage levels, with averages above 80% and some countries already exceeding 90%.
CO₂ emission allowance futures on the EEX market for the December 2025 reference contract fluctuated between €75.76/t and €76.81/t during the first three sessions of the week. The weekly maximum of €76.81/t occurred on Tuesday, September 23, while the weekly minimum of €75.76/t was recorded on Thursday, September 25. On Friday, September 26, the price closed slightly higher at €75.97/t, still 2.0% lower than the previous Friday.
Overall, late September saw mixed trends in European energy markets, with Brent oil rising due to supply concerns, TTF gas remaining stable amid abundant supply, and CO₂ allowances showing modest weekly declines, AleaSoft reports.
