Euro Markets: EUAs climb to 11-week high on technical buying as gas hits one-year high
European carbon prices posted healthy gains on Thursday, initially outpacing strength in gas before front-month TTF rose to a one-year high as traders reacted to news headlines that added uncertainty to the supply outlook.
Read MoreEuro Markets: EUAs shed 1.8% as investment funds cut net short position to smallest in more than a year
European carbon prices dropped 1.8% on Wednesday, clawing back some of a 3.2% decline in a late recovery, as the weekly positions data showed that investment funds cut their bearish bets to the smallest in more than a year, while natural gas prices struggled amid reports that additional supply may soon be finding its way to Europe.
Read MoreEuro Markets: EUAs bounce off technical support but end marginally lower amid continued gas strength
European carbon allowance prices ended the session marginally lower on Tuesday after early weakness tested a key technical support and gave way to a steady rally back to another level amid continuing strength in energy markets.
Read MoreEuro Markets: EUAs fall away late to post modest loss as gas, power rise to near multi-month highs
European carbon prices started the week brightly, catching a boost from rising gas and power but failing to hold on the full extent of the increase, as EUAs traded either side of Friday’s settlement before dipping at the close.
Read MoreEuro Markets: Power, gas rally pushes EUAs 6.5% higher on the week, triggers technical buying
European carbon prices extended their late Thursday rally to post a 6.5% weekly gain as power and gas-inspired buying turned into a technical rally as EUAs climbed above key technical levels, as weather forecasts called for lower temperatures in much of Europe.
Read MoreEuro Markets: EUAs advance most in two weeks as power short covering sparks late surge
EU carbon prices firmed robustly on Thursday, rising by the most in two weeks as energy markets fluctuated before ending the day with a steep climb on a sudden burst of short covering in power that triggered additional buying in carbon and natural gas.
Read MoreEuro Markets: EUAs drop for fifth time in six days despite afternoon rally as market digests US election result
European carbon prices fell for the fifth time in the last six days on Wednesday as early selling across energy markets on the back of the US election outcome gave way to a general afternoon rally, after positioning data showed investment funds had cut their bearish bets on carbon to the lowest in nine weeks.
Read MoreEuro Markets: EUAs retreat with gas, drop 1.4% after early stability gives way to steady selling
After starting the day relatively calmly and little changed, European carbon faded away in the afternoon in line with steadily weaker natural gas prices, as many markets appeared to adopt a watching brief for news from the US presidential election.
Read MoreVeteran carbon trader to join Vitol as current head of carbon set to retire
Vitol has appointed a veteran emissions trader to its carbon and environmental products division, as the current head of division is set to retire.
Read MoreEuro Markets: EUAs hold on to early gains amid energy volatility as weather points to thermal generation
European carbon prices rose strongly on Monday morning before consolidating these early gains for the rest of the session, amid healthy increases in gas and power as traders pointed to weather forecasts supporting thermal generation, with markets also preparing themselves ahead of Tuesday’s US presidential election.
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