Euro Market: EUAs re-test six-month lows as selling pressure continues to dominate
European carbon allowance prices came under renewed pressure on Tuesday amid continued gloomy macroeconomic and geopolitical sentiment, but sustained selling encountered support marginally above Monday’s six-month low.
Read MoreEuro Markets: EUAs erase early plunge to six-month low in heavy trading as gas rebounds on geopolitics
European carbon prices dropped sharply from the opening on Monday, reaching a new six-month low early in the afternoon – just above a key psychological and technical level – before then clawing back all their losses in the busiest day the ICE exchange has seen since early 2022, after gas prices staged a bounce-back on bullish news reports.
Read MoreEU ETS found to have “no significant issues” in market watchdog’s first annual report
Europe’s markets authority said it had not found any “significant issues” in the functioning of the EU ETS during 2023 and did not make any recommendations for additional regulation, in its first annual report on the market published on Monday.
Read MoreEuro Markets: EUAs test key support early and late, shrugging off brief rally as bears remain in charge
European carbon prices recorded their sixth five-day decline in the last seven weeks, with bears still firmly in charge as they ended the period just shy of a key support level and selling pressure pushing the market to new six-month lows, while UK Allowances resumed their decline.
Read MoreAnalysts slash UKA price forecast after govt proposes delay to second phase
Analysts from a consultancy have slashed their forecast for UK Allowance prices in 2025 by 9% and their 2026 outlook by 13% after the British market regulator sought views on a plan to delay the start of the market’s second compliance phase by one year to align any changes in supply with the start of the country’s carbon border tariff.
Read MoreEuro Markets: EUAs set new 6-month low but end day marginally higher as market seeks direction
European carbon prices extended their recent lows in choppy trading on Thursday but ended the day marginally firmer, shrugging off rising energy prices in the afternoon amid growing geopolitical tensions in the Middle East, while UKAs snapped an eight-day losing streak.
Read MoreEuro Markets: EUAs post lowest settlement in 6 months as fundamental gloom builds
EU carbon prices fell to their lowest settlement in six months with buying activity was little in evidence as participants continued to eye weak fundamentals, even as weekly position data showed investment funds cutting their bearish bets by around a third, and UK Allowances extended their decline for an eighth straight day.
Read MoreEuro Markets: EUAs slump to near 5-month low as fundamentals, spreads weigh on prices
European carbon prices fell for a third consecutive day on Tuesday and neared their recent five-month lows, weighed down by a growing focus on fundamentals among participants, weaker energy markets, and an increase in spread trading as traders moved more positions into the December 2025 contract.
Read MoreEuro Markets: EUAs post 6.7% loss in September as options-fuelled rally loses steam
European carbon allowance prices posted their second-worst September performance in the past 10 years as last week’s options-fuelled rally began to unwind while the annual compliance cycle came to an end and energy markets handed back some of their early gains.
Read MoreEuro Markets: EUAs plunge to new five-month low as gas drops 6% on supply news
EU allowance prices fell steeply on Thursday afternoon, reaching a new five-month low after earlier grinding their way higher, as gas markets were roiled by reports that Azerbaijan may ship gas to Europe through Ukraine, allaying fears of a supply shortage this winter after Kyiv’s contract to ship Russian gas comes to an end.
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