Euro Markets: “Tired” EUAs gap higher as colder weather forecast prompts jump in gas and power
EU carbon jumped on Monday, boosted by sharply higher energy prices after the latest forecasts showed colder weather across the region, expected to increase the call on thermal power generation, while UKAs rose to a new eight-month high.
Read MoreEuro Markets: “Tired” EUAs extend sideways trend, post 2% weekly loss despite new highs in natural gas
European carbon prices traded sideways on Friday to end the day 0.4% higher and week 2% lower despite strength in the wider energy complex, as participants continued to speculate on the prospects for sustained strength in a market being increasingly described as “stuck”, “tired”, and “rangebound”.
Read MoreEuro Markets: EUAs return to shadowing TTF as market awaits new direction
European carbon prices edged higher on Thursday amid further gains in gas and power, with traders still questioning the recent bullish trend and some saying that EUAs are now “marking time” ahead of the emergence of a new price direction.
Read MoreEuro 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.
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