Brent oil futures for the Front Month on the ICE market reached their weekly maximum settlement price of $63.37/bbl on Monday, November 24. Following a 1.4% drop on Tuesday, November 25, prices fell to the weekly minimum of $62.48/bbl, the lowest since October 22, according to AleaSoft Energy Forecasting. In the last three sessions, settlement prices remained above $63/bbl, closing at $63.20/bbl on Friday, November 28, marking a 1.0% increase compared to the previous Friday.
During the fourth week of November, peace talks in Ukraine continued to exert downward pressure on Brent prices, as global supply could increase if sanctions on Russia were lifted. Expectations ahead of the OPEC+ meeting also influenced price trends. On Sunday, November 30, OPEC+ decided to maintain its plan to pause production increases during Q1 2026.
For TTF gas futures on the ICE market (Front Month), the fourth week of November continued the downward trend from the previous week. Prices reached the weekly maximum of €29.75/MWh on Monday, November 25, and fell to the weekly minimum of €28.82/MWh on Friday, November 28 — 4.6% lower than the previous Friday and the lowest since May 2, 2024. Peace negotiations in Ukraine, high supply levels, and forecasts for milder early December temperatures contributed to prices remaining below €30/MWh.
Regarding CO₂ emission allowance futures on the EEX market for the December 2025 contract, prices hit the weekly minimum of €80.60/t on Monday, November 24, before climbing throughout the week. On Friday, November 28, the weekly maximum of €83.25/t was reached — 3.5% higher than the previous Friday and the highest since February 1, 2025.
These movements highlight how geopolitical developments, supply expectations, and seasonal forecasts continue to influence European energy and emissions markets, AleaSoft reports.
