Settlement prices of Brent oil futures for the Front Month on the ICE market stayed below $70/bbl during the first week of February. On Monday, February 2, the futures recorded their weekly minimum settlement price, $66.30/bbl. Prices then rose in subsequent sessions, reaching the weekly maximum settlement price of $69.46/bbl on February 4. However, by the end of the week, prices remained under $68.50/bbl, closing at $68.05/bbl on Friday, February 6, which was 3.7% lower than the previous Friday’s settlement.
Geopolitical tensions in the Middle East supported the midweek rise in Brent oil futures, pushing prices to the weekly maximum on February 4. Yet, expectations surrounding US-Iran talks scheduled for February 6 contributed to keeping prices lower during the final sessions of the week.
For TTF gas futures on the ICE market (Front Month), the week began with a decline. On Tuesday, February 3, the weekly minimum settlement price of €32.86/MWh was registered. Prices then increased over the following sessions, reaching the weekly maximum settlement price of €35.69/MWh on Friday, February 6, though this remained 9.1% lower than the previous Friday.
The increase in US liquefied natural gas (LNG) availability helped keep TTF gas prices under €36/MWh. Lower supply concerns through the Strait of Hormuz also contributed to subdued price levels. At the same time, reduced wind energy production boosted gas demand for electricity generation, supporting the late-week price rise. Forecasts of low temperatures and low European storage levels further influenced this trend.
Meanwhile, CO₂ emission allowance futures in the EEX market for the December 2026 contract showed a declining trend during the first week of February. On Monday, February 2, the weekly maximum settlement price of €83.28/t was recorded. Prices then fell, reaching the weekly minimum of €78.20/t on Thursday, February 5—the lowest level since October 1, 2025. By Friday, February 6, the settlement price recovered slightly to €78.74/t, still 3.1% lower than the previous Friday’s price, AleaSoft reports.
