The European carbon market ended lower on Friday but still posted a weekly gain of 2.6% in what was described by Carbon Pulse as a very calm session, with EUAs trading “in the narrowest daily range in four years.”

Trading activity was also subdued, with only 14.8 million allowances changing hands—around half of this year’s average daily volume—underscoring the lack of conviction that continues to characterize the market.

Meanwhile, on the European gas market, the TTF front-month contract rose 8.2% compared with the previous Friday, snapping two weeks of declines. The rebound was driven by waning optimism over peace talks and renewed supply concerns ahead of scheduled maintenance at Norwegian infrastructure.

Gassco, the operator of Norway’s gas transport system, revised its maintenance schedule, introducing deeper cuts for the remainder of August. Furthermore, extended repair works “will curb gas flows by around 110 mcm/day for much of September,” according to LSEG.

On Monday morning, the downward trend that started on Friday continued, with EUAs tracking similar moves in gas prices. TTF front month was trading down around 1% in early trading “as supply curbs at Norway’s giant Troll field are expected to be less severe than feared,” according to Trading Economics. Trading is expected to remain thin today, given that it is a bank holiday in the UK.