During the second week of February, Brent oil futures for the Front Month on the ICE market remained below $70/bbl. The weekly maximum settlement price was $69.40/bbl on February 11, while the weekly minimum occurred on Thursday, February 12, at $67.52/bbl following a 2.7% drop from the previous day. By Friday, February 13, the price rose slightly to $67.75/bbl, still 0.4% lower than the previous Friday, according to AleaSoft Energy Forecasting.
Tensions in the Middle East kept Brent futures above $68.75/bbl early in the week, but concerns about global demand limited further gains. The International Energy Agency (IEA) released its monthly report on Thursday, warning of a potential oversupply in 2026 and lowering oil demand forecasts. Meanwhile, statements from the US president regarding negotiations with Iran suggested talks could last a month, easing supply fears and exerting downward pressure on prices.
TTF gas futures for the Front Month on the ICE market remained stable below €34/MWh. On Monday, February 9, futures reached their weekly maximum at €33.50/MWh, already 6.2% lower than the previous Friday. The weekly minimum occurred on Tuesday, February 10, at €31.85/MWh. For the remainder of the week, prices stayed above €32/MWh, closing at €32.50/MWh on Friday, February 13, 8.9% lower than the previous Friday.
Downward pressure on TTF gas futures was driven by forecasts of milder temperatures and increased US liquefied natural gas (LNG) availability, supported by expectations of warmer weather in the United States.
Regarding CO₂ emission allowance futures on the EEX market for the December 2026 contract, the weekly maximum settlement price of €81.33/t was recorded on Monday, February 9. Prices declined throughout the week, reaching a weekly minimum of €70.70/t on Friday, February 13, which was 10% lower than the previous Friday and the lowest level since May 6, 2025, AleaSoft reports.
