Euro Markets: EUAs end little changed as June options expiry continues to influence price action
European carbon prices ended Tuesday little changed, holding steady in the relatively narrow price channel they had occupied in the second half of last week, as participants reported technical-driven trading focused on the approaching options expiry.
Read MoreEuro Markets: EUAs bounce back after early weakness on EU elections as natural gas tracks US gains
European carbon prices fell steadily on Monday morning as the market reacted to last week’s EU Parliamentary elections, before clawing back most of the losses later in the session as natural gas prices jumped on the back of strong gains in the US where higher temperatures are expected to increase the call on gas for power generation.
Read MoreUK ETS verified emissions drop 12.5% in 2023, driven by steep fall from power sector
Verified emissions in the UK ETS fell by 12.5% in 2023, the government announced late Friday, with the decrease in output driven by a steep fall in emissions from power generation, even as output from aviation rose for the third successive year.
Read MoreEuro Markets: EUAs, energy move in narrow ranges as activity calms, while UKAs shrink discount
European carbon and energy prices remained in a narrow trading range on Friday as activity across all markets appeared to diminish, with EUAs moving between the key June call options strike prices and are expected to continue to do so in the short term, while UKAs climbed to their smallest discount to the EU benchmark in 15 months.
Read MoreEuro Markets: Carbon ends little-changed as looming options expiry dampens volatility
European carbon prices ended the day little changed on Thursday despite trading in a nearly €2 range during the morning, as energy markets appeared to adopt a fairly cautious tone and the approaching options expiry appeared to be restricting the market’s volatility.
Read MoreEuro Markets: EUAs post modest loss after early volatility as buyers emerge to slow steady selling
European carbon prices were modestly weaker at the end of Wednesday as buying interest emerged to soak up the steady selling pressure that has been a feature for several days, and traders reacted to choppy natural gas movements and Commitment of Traders data that showed investment funds had increased their bearish bets last week.
Read MoreEuro Markets: EUAs drop to two-week low amid aggressive selling as gas prices unwind gains
European carbon allowances weakened steadily on Tuesday afternoon after a volatile morning as the market tracked developments in gas, where prices fell sharply on news that an outage in the North Sea may be resolved quicker than had been expected, while UKAs also fell but trimmed their discount to EUAs to the narrowest in 15 months.
Read MoreEuro Markets: EUAs climb 5% to test recent highs before giving up gains as market tracks volatile gas
European carbon prices jumped steeply on Monday morning and approached a five-month high, before giving up virtually all their gains in the afternoon, as natural gas markets were roiled by an unscheduled outage in the North Sea, while UK Allowances also climbed to their most in nearly eight months before they too fell back.
Read MoreEuro Markets: EUAs drift towards key technical level as funds slash short positions
European carbon prices drifted slightly on Wednesday and approached a key technical support as the market digested the latest Commitment of Traders data that showed investment funds had cut their net short to the lowest in seven months, while compliance companies also slashed their position.
Read MoreEuro Markets: EUAs slip back into recent trading range amid energy weakness
European carbon prices declined moderately on Tuesday, falling back into a recent trading range amid general weakness in the energy complex, further reinforcing the correlation between EUAs and natural gas prices even as the month neared its end and hedging of TTF options positions appeared to be over.
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