During the fourth week of April 2025, Brent oil futures for the Front Month in the ICE market saw fluctuations. Prices reached their weekly peak on Tuesday, April 22, settling at $67.44 per barrel. However, by April 23, they dropped by 2.0%, hitting a weekly low of $66.12 per barrel. In the final two days of the week, prices increased slightly, with Friday’s settlement at $66.87 per barrel, reflecting a 1.6% drop compared to the previous week’s closing price. Despite the decrease on Friday, the weekly average was 1.2% higher than the week before.
The uncertainty surrounding global oil demand, mainly due to ongoing trade tensions, continued to influence Brent oil prices. Expectations of potential OPEC+ production increases in June contributed to keeping prices below $67 per barrel during most of the week. Additionally, the strengthening of the U.S. dollar added downward pressure on prices.
In the ICE market, TTF gas futures for the Front Month also followed a downward trend during the fourth week of April. Prices peaked on Monday, April 21, at €35.66 per MWh but gradually declined throughout the week, reaching a weekly low of €32.43 per MWh on Friday, April 25. This was the lowest price since July 26, 2024. Lower demand, driven by rising temperatures, along with stable supply conditions, supported the decline in gas prices. European reserves continued to grow as well, contributing to the price decrease.
Meanwhile, CO2 emission allowance futures in the EEX market saw fluctuations during the week. The reference contract for December 2025 hit its weekly low on Tuesday, April 22, at €64.39 per ton. A 3.9% increase on April 23 brought the price up to €66.90 per ton, marking the week’s peak. Over the next two sessions, prices slightly dropped but remained above €66 per ton, with Friday’s settlement at €66.43 per ton. This price was 0.8% higher than the previous week’s closing price. However, the weekly average for CO2 prices was 0.6% lower compared to the week before.
Overall, the fourth week of April saw mixed trends in energy markets, with oil and CO2 prices showing some increases, while TTF gas futures experienced a notable decline, AleaSoft reports.
