During the second week of June, Brent crude oil futures (Front Month, ICE market) reached their weekly peak settlement price of $94.25/bbl on Monday, June 8. Prices remained above $90/bbl until Thursday, before falling sharply at the end of the week. On Friday, June 12, Brent prices dropped by 3.4% compared with the previous day, reaching the weekly minimum settlement price of $87.33/bbl. According to AleaSoft Energy Forecasting, this level was 6.2% lower than the previous Friday and marked the lowest price since March 6.
Throughout the week, geopolitical developments in the Middle East continued to play a key role in shaping Brent price movements. Expectations of a potential peace agreement between the United States and Iran contributed to downward pressure on prices toward the end of the week. Additional bearish factors included the OPEC+ decision to maintain production increases in July and weaker-than-expected US inflation data.
Following the announcement on Sunday, June 14, of an agreement to end the conflict between the United States and Iran and reopen the Strait of Hormuz, Brent futures fell further, trading below $85/bbl on Monday, June 15. The official signing of the agreement is expected on Friday, June 19 in Switzerland.
In the same period, TTF natural gas futures (ICE, Front Month) mostly traded above €48.50/MWh. Prices peaked at €49.99/MWh on June 10, while the weekly minimum was recorded on Friday, June 12 at €46.77/MWh, following a 5.9% daily drop. This level was 3.6% below the previous week’s closing price, according to AleaSoft Energy Forecasting.
Geopolitical tensions in the Middle East supported higher gas prices for most of the week, but easing conflict expectations and progress in negotiations between the United States and Iran led to a decline at the end of the period. After the announcement of a preliminary agreement, TTF futures dropped further, trading below €44.60/MWh on June 15.
Meanwhile, CO₂ emission allowance futures (EEX, December 2026 contract) showed relatively stable movements. They reached their weekly low of €76.17/t on June 9, before climbing to a weekly high of €77.52/t on June 10. Prices remained above €77/t for most of the week, ending at €77.17/t on June 12, which was 0.3% higher than the previous Friday, AleaSoft reports.