EMEA > Euro Markets: EUAs decline 1% despite late gas price spike after COT data shows funds cutting shorts further

Euro Markets: EUAs decline 1% despite late gas price spike after COT data shows funds cutting shorts further

Published 17:22 on August 28, 2024  /  Last updated at 17:31 on August 28, 2024  / /  EMEA, EU ETS, UK ETS

EU carbon allowance prices gave up early gains and ended the day 1% lower after weekly positioning data showed investment funds further reducing their bearish bets and a rise in hedging related to coal-fired power generation, before rallying briefly in the afternoon after erroneous reports of an outage at a major US LNG plant triggered a momentary spike in natural gas prices.
EU carbon allowance prices gave up early gains and ended the day 1% lower after weekly positioning data showed investment funds further reducing their bearish bets and a rise in hedging related to coal-fired power generation, before rallying briefly in the afternoon after erroneous reports of an outage at a major US LNG plant triggered a momentary spike in natural gas prices.


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