Euro Markets: “Nervous” EUAs post modest rise after volatile session as funds add to length
EU carbon prices posted a modest increase on Wednesday to end two days of declines, helped by an afternoon rally in gas and power that unwound earlier losses, as selling pressure continued to cap the recent rally, with traders describing a nervous market in consolidation.
Read MoreEuro Markets: Carbon ends little changed, caught between falling gas and recovering equities
European carbon prices ended Tuesday little changed after Monday’s sharp loss, despite trading in a €2.40 range over the course of the day, as natural gas joined the sell-off after China announced tariffs on US LNG cargoes, while European equities recovered early losses triggered by worries over the impact of likely tariffs implemented by Washington.
Read MoreEuro Markets: EUAs tumble 3.5% as ‘risk-off’ sentiment washes over markets
European carbon prices tumbled on Monday even as natural gas markets advanced, as EUAs were hit by substantial selling on concerns that President Donald Trump will levy new tariffs on EU exports to the US.
Read MoreEuro Markets: EUAs plough higher amid stubborn buying, as UKAs post largest ever weekly gain
European carbon permits returned a 15% monthly increase in January after posting their seventh gain in the last 10 days on Friday, with a strong auction outcome underpinning the market’s stubborn strength amid firming power and gas, while UKAs recorded their largest-ever weekly gain.
Read MoreEuro Markets: EUAs retreat after setting 15-month high, as analysts highlight retracement potential
European carbon allowance prices reached a new 15-month high on Thursday morning, before giving back the gains as EUAs cut loose from their recent correlation with TTF natural gas and German power in the afternoon amid a pick-up in selling activity, with analysts pointing to growing potential for a price retracement.
Read MoreEuro Markets: EUAs maintain upward momentum to new 15-month high as investors build more length
European carbon allowance prices rose to new 15-month highs on Wednesday, boosted by stronger power and gas prices and continued speculator buying, supported by a weekly Commitment of Traders report that showed investment funds had again increased their long position to the most in more than three years.
Read MoreEuro Markets: Bulls drive late spike in EUA prices to erase early losses, defend positions ahead of auction pause
European carbon prices jumped late in the session on Tuesday as bullish traders drove prices higher ahead of the settlement window to defend the recent rally in the face of growing bearish sentiment, while UKAs gained by the most in the market’s history after the Financial Times reported that the British government has asked for relinking to the EU ETS to be added to the agenda of an upcoming summit in Brussels.
Read MoreUKAs surge on reports of British govt push for ETS linkage with EU
UK carbon prices rallied above £40 on Tuesday on reports describing a push from Prime Minister Keir Starmer’s government to link the British emissions trading market to that of the EU – a plan strongly supported by the Scottish government.
Read MoreEuro Markets: EUAs drop in sync with gas, equities as bears try to correct ‘over-stretched’ market
European carbon prices began the week with a move lower as bearish traders sought to impose their views but ran into stubborn defence at technical levels, while natural gas eased back as the supply outlook improved even as EU storage levels fell to around 15% below the same time last year.
Read MoreEuro Markets: EUAs settle at 15-month high above technical level as bulls protect 3% weekly gains
European carbon prices settled at their highest in 15 months on Friday, capping a 3% weekly gain as bullish positioned traders protected the recent rally by driving prices up by close to €2/tonne in the afternoon, and generating a settlement price above a key technical level.
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