On Tuesday, September 15, front-month Brent crude oil futures on the ICE market reached a weekly settlement high of $108.75/bbl. According to data analyzed by AleaSoft Energy Forecasting, this marked the highest settlement price since May 20. Prices subsequently declined to a weekly low of $103.87/bbl on Friday, September 18, down 0.7% from the previous Friday.
Brent futures remained above $100/bbl throughout the third week of September, as the war between the United States and Iran continued to disrupt energy markets and severe restrictions affected oil transit through the Strait of Hormuz. Drone attacks that damaged Saudi Arabia’s East-West oil pipeline pushed Brent to its weekly high on September 15, representing a 2.9% increase from the previous session. Prices later declined to the weekly low after Saudi Arabia announced plans to route additional crude through Oman and the Strait of Hormuz, easing concerns over potential disruptions to Saudi oil supplies.
Meanwhile, front-month TTF natural gas futures on the ICE market reached a weekly settlement high of €82.57/MWh on Monday, September 14. AleaSoft Energy Forecasting data showed that this was the highest level since December 30, 2022. Prices then declined through Thursday, September 17, when they reached a weekly low of €76.35/MWh. Following a 4.1% increase from the previous session, the settlement price rose to €79.52/MWh on Friday, September 18, matching the level recorded the previous Friday.
The conflict between the United States and Iran continued to constrain LNG supplies from the Persian Gulf, while strong Asian demand intensified competition for available cargoes. At the same time, EU gas storage facilities were around 68% full in mid-September, below the five-year average of 84%. The end of a strike at France’s Dunkirk LNG terminal, however, contributed to the weekly price low recorded on Thursday.
On the EEX market, CO₂ emission allowance futures for the December 2026 reference contract reached a weekly settlement high of €87.99/t on Monday, September 14. According to AleaSoft Energy Forecasting, this was the highest level since January 28. Prices subsequently fell to a weekly low of €84.76/t on September 16, before recovering above €86/t during the final two trading sessions of the week. On Friday, September 18, the settlement price reached €86.89/t, up 1.6% from the previous Friday, AleaSoft reports.
