Euro Markets: EUAs race up to test technical resistance after strong buying wipes out early decline
European carbon prices broke out of their recent range and raced to a seven-day high as a burst of aggressive buying in the afternoon clawed back the morning’s losses and drove the market to a key technical resistance level.
Read MoreEuro Markets: EUAs up 0.4% on the week as market settles in for rangebound trading ahead of reforms
European carbon prices posted a 0.4% weekly gain, unwinding the previous week’s 0.4% decline as EUAs continued to travel sideways in a narrow channel ahead of mid-July’s EU ETS reform package, while UKAs dropped 1.4% on the week amid ebbing confidence in a rapid linking agreement.
Read MoreEuro Markets: EUAs remain rangebound between technical levels as attention shifts to policy developments
European carbon prices posted a modest loss on Thursday, moving within a steadily shrinking channel between two key technical levels as trading activity continued to diminish in anticipation of the European Commission’s unveiling of its ETS reform package in around two weeks.
Read MoreEuro Markets: EUAs bounce off technical support again as market absorbs two-day ETS reform delay
European carbon allowances traded in a tight range, weakening to test a key technical support and failing to react to news that the presentation of the EU ETS reform package will be delayed by two days.
Read MoreEuro Markets: EUAs end first half of 2026 down 8.3% as ETS reform reports dismissed as “fake news”
EU carbon prices ended the first half of the year down by 8.3% despite gaining nearly €1.40 on Tuesday, as traders reversed Monday’s sell-off after a key European politician dismissed as “fake news” earlier media reports on potential ETS reform measures, with the rally bringing EUAs back above a key technical support level.
Read MoreEuro Markets: EUAs hold on to €80 before ETS reform reports trigger heavy selling
European carbon managed to hold above the €80 mark for the first half of the day until news reports detailing a key political party’s position on the EU ETS review triggered a heavy sell-off as traders reacted to perceived bearish supply-side proposals.
Read MoreEuro Markets: EUAs post marginal daily and weekly loss as traders eye looming reform package
European carbon permits posted marginal daily and weekly declines on Friday as allowance prices moved in their narrowest range for more than two weeks, with traders anticipating the end of the financial half-year and the approaching ETS reform package, while energy commodities were mixed after headlines sparked afternoon rallies.
Read MoreEuro Markets: Afternoon sell-off wipes out early gains as EU reportedly mulls MSR softening
Carbon looked to be heading higher on Thursday, posting a healthy early increase even as energy markets extended their week of declines amid a gradual lessening of supply worries around the Strait of Hormuz, before a steep sell-off wiped out the day’s gains and left carbon with a 0.3% daily loss, while the European Commission was reported to be mulling a softening of the market stability reserve’s parameters.
Read MoreEuro Markets: EUAs rise 1.5% amid options expiry positioning before easing to post marginal advance
EUAs rose as much as 1.5% before falling back towards the week’s lows on Wednesday as traders positioned themselves for the expiry of June options in the early afternoon and after weekly Commitment of Traders data showed speculative traders had increased their bullish bets last week by the most in nine months and ahead of the afternoon expiry of June options contracts.
Read MoreEuro Markets: EUAs trim losses after steady options-related selling, as UKAs fall 7.1% in 2 days
European carbon dropped by as much as 1.6% through to mid-afternoon on Tuesday before clawing back around a third of the decline as market participants eyed Wednesday’s expiry of the June options contract, while UK allowance prices fell heavily for a second session and have lost 7.1% in two days, after having come within nearly €10 of their EU counterpart late last week.
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