Euro Markets: EUAs drop below key technical support amid broad weakness as summer lull gets underway

Published 17:30 on July 15, 2024  /  Last updated at 17:30 on July 15, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon prices gave up Friday’s late gains and dropped below a major technical support level that had propped the market up since early July, amid similar weakness across related markets as forecasts for higher temperatures and improved renewables output brought an end to the energy complex’s two-day rally.

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EU countries more than three-quarters through 2024 free EUA allocations –Commission data

Published 17:51 on July 12, 2024  /  Last updated at 17:51 on July 12, 2024  / Alessandro Vitelli /  EMEA, EU ETS

EU member states have handed out more than three-quarters of their 2024 quotas of free carbon allowances under the ETS, according to data released by the European Commission.

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Euro Markets: EUAs rise a second day, post weekly loss as countries report free permit handouts

Published 17:39 on July 12, 2024  /  Last updated at 01:13 on July 13, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon rose for a second day but posted a week-on-week loss as the market mimicked fluctuations in natural gas amid declining trading activity, while member states reported progress in their annual handout of free EUAs, and UK Allowances posted their largest weekly loss since the start of the year.

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Euro Markets: EUAs track gas higher, snapping three-day losing streak after finding strong support

Published 17:16 on July 11, 2024  /  Last updated at 17:22 on July 11, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon edged higher on Thursday, ending a three-day losing streak as prices moved in line with firmer natural gas and also found strong support at Wednesday’s closing level, despite a downturn in liquidity as the holiday season approached its peak.

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Euro Markets: EUAs drop for third day as COT data shows small drop in speculators’ bearish bets

Published 17:29 on July 10, 2024  /  Last updated at 17:34 on July 10, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

EU carbon prices fell for a third straight session on Wednesday as the energy complex gave up early gains and after weekly position data showed investment funds had shifted their holdings in favour of greater length during last week’s 4.3% price rally, while UK Allowances extended their losses amid renewed speculative selling in the wake of last Thursday’s election.

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Euro Markets: EUAs continue to weaken amid aggressive selling, weak gas, allocation speculation

Published 17:23 on July 9, 2024  /  Last updated at 17:33 on July 9, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon extended losses for a second day after prices had dropped below a key support level on Monday, as aggressive selling in both gas and carbon continued to put pressure on all markets, while a weak EUA auction and speculation that the 2024 allocation of free EUAs has begun, underscored the bearish trend.

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Euro Markets: EUAs drop through technical, psychological levels as speculators ramp up selling

Published 17:04 on July 8, 2024  /  Last updated at 17:34 on July 8, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon prices dropped by the most in three weeks on Monday as prices tumbled through a key level that had been supporting the market for almost a week, amid aggressive selling from speculative traders that also appeared to trigger a decline in natural gas and power, while UKAs plunged more than 2% as post-election profit-taking continued.

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Euro Markets: EUAs remain rangebound but post first weekly gain since late May as activity dwindles

Published 17:03 on July 5, 2024  /  Last updated at 20:58 on July 5, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

European carbon prices traded in an almost-identical range as Thursday’s market as the summer holiday season swung into its peak period, with technical support and resistance levels compressing slightly as the market’s volatility has calmed, while UK Allowances fell away after a landslide election result ushered in a centre-left government that is expected to speed up action on climate issues.

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Euro Markets: Carbon edges lower after rangebound trading as activity thins with US holiday

Published 17:39 on July 4, 2024  /  Last updated at 17:47 on July 4, 2024  / Alessandro Vitelli /  EMEA, EU ETS, UK ETS

EUAs weakened modestly as activity dwindled in the afternoon with the US market were closed for Independence Day, prices spending much of the day see-sawing in a well-defined range, while UKAs rose late in the day as the country voted in a general election.

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REPowerEU revenues from EUA auctions falling behind target amid EUA price slump

Published 16:25 on July 4, 2024  /  Last updated at 16:59 on July 4, 2024  / Alessandro Vitelli /  EMEA, EU ETS

REPowerEU revenue has fallen more than €300 million behind the EU’s target after the first a year of sales under the initiative, raising the prospect that even more EUAs will need to be sold into the market to raise the €20 billion in funding that has been promised from the bloc’s carbon market to pay for the switch away from Russian energy supplies.

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