Euro Markets: EUAs lose 4.6% on the week after indecisive Friday sees all energy markets weaken
European carbon prices posted a 4.6% weekly loss after a day of indecision on Friday as energy markets weakened while traders waited for more information on reports that EU buyers were near to an agreement to buy gas from Azerbaijan, replacing lost volumes from Russia.
Read MoreEuro Markets: EUAs weaken steadily on gas pressure, before late TTF plunge drops carbon €1 after window
European carbon prices ended the month of October 1.5% lower from a month earlier, dragged lower on Thursday by falling natural gas and breaking below a key technical support mid-morning, before a late plunge in gas prices dragged EUAs down by €1 to a six-day low.
Read MoreEuro Markets: EUAs give up two days of gains on technical, energy selling after COT shows funds cut shorts
EU carbon allowance prices fell back on Wednesday amid a wider retreat in energy markets, as weekly positioning data showed speculative players had cut their net short position in carbon significantly, easing the upward pressure on prices, while investment funds continued to add length in natural gas.
Read MoreEuro Markets: EUAs climb as much as 2% to test significant technical resistance before late slide
European carbon prices resumed the recovery that began late last week, erasing Monday’s loss and surpassing Thursday and Friday’s intraday peaks to set a new eight-week high, as buyers returned to the market and pushed prices close to technical resistance levels, before a late dip amid renewed selling.
Read MoreEuro Markets: EUAs rally after losing 3.5% amid cross-market sell-off as buyers hold steady
European carbon prices ended Monday down by 0.9% after rallying from an earlier 3.5% drop amid healthy buying, even as all energy markets fell from the start of the day when geopolitical tensions were judged to be lessening in the wake of Israeli attacks on military targets in Iran over the weekend.
Read MoreEUA winter price outlook hinges on weather, speculative positions in TTF –analyst
The outlook for EUA prices over the coming winter will largely depend on whether natural gas prices can hold on to their recent gains and whether speculative investors continue to hold significant long positions in TTF derivatives, according to an analyst.
Read MoreUK’s 2025 auction schedule shows 19% volume reduction from 2024
The main futures exchange that handles UK Allowances trade announced its auction programme for 2025 late on Friday, revealing a 19% drop in auction supply next year.
Read MoreEuro Markets: EUAs record biggest weekly rise since May as gas-driven market consolidates gains
European carbon allowances posted the largest weekly increase in nearly six months, advancing 7.5% in five days as prices consolidated the gains made over the previous two sessions in line with gas prices reaching a two-month high, while traders speculated that the recent rally from the €60.00 level may have signalled the bottom of the market for the rest of the year.
Read MoreUK publishes proposed regulations formalising changes to ETS announced last year
The UK government has formally proposed legislation across the country’s four parliaments that would put into effect major changes to the British carbon market that were announced last year, according to a statement from the ETS Authority.
Read MoreEuro Markets: Short-covering extends to second day, fuelling 2.7% gain as technical levels fall
European carbon prices advanced strongly for a second session on Thursday amid renewed short-covering in high volume, as the secondary market breached key technical levels and pulled energy prices higher, while UKAs ended their recent winning run.
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