Euro Markets: EUAs fall further on bearish near-term fundamentals, as funds extend net long position
European carbon continued to slip lower off the back of weakening TTF natural gas prices, amid bearish near-term fundamentals for thermal power generation, as investment funds extended their net long position to the highest total since the end of July 2023.
Read MoreEU-UK should align on carbon pricing, CCS to build thriving clean tech hub -report
The EU and UK should explore linking their emissions trading systems and cooperate on cross-border carbon capture and storage (CCS) under efforts to form a resilient clean tech hub on the global stage, an industry body said on Tuesday.
Read MoreEuro Markets: EUAs ease back as close correlation to TTF gas continues
European carbon prices eased on Tuesday, despite colder weather forecasts, as they continued to track TTF natural gas, which slipped marginally lower following two bullish sessions amid expected comfortable supply fundamentals for winter.
Read MoreEuro Markets: EUAs give up early rally above key level as gas fluctuates on new supply
EU carbon prices ended Monday modestly higher after an early rally was followed by a long and aggressive sell-off, while natural gas prices also faded but held on to more of their gains amid news that Azerbaijan had started shipments to Slovakia.
Read MoreEuro Markets: EUAs trim weekly loss amid gas surge on reports of new February storage mandate
EU carbon prices posted a weekly loss of 1.3% but rallied strongly in the second half of Friday, as reports that the EU will mandate minimum gas storage levels by February 2025 triggered a strong rally in the TTF market and erased earlier declines.
Read MoreUK consults on including maritime emissions, non-pipeline CCS in ETS
The UK government on Thursday launched a consultation on further changes to the UK ETS, including the expansion of the market to cover maritime shipping emissions, and on proposals for regulations that would allow permanent storage CO2 via non-pipeline methods to be subtracted from reportable emissions.
Read MoreEuro Markets: EUAs toy with key technical support as sellers still in charge in thin market
European carbon moved in a comparatively narrow range but ended Thursday flirting with a key technical support level, as trading calmed amid the US Thanksgiving holiday, and energy drifted lower as markets sought direction.
Read MoreEuro Markets: EUAs touch seven-day low as gas weakens, UKAs slide as reform hopes dim
EU carbon prices dropped to their lowest in seven days on Wednesday along with a decline in natural gas, as weekly position data showed investment funds building length for a third week in a row, while UKAs also dropped to their lowest in seven weeks amid heavy trading with some participants losing patience over long-awaited market reforms.
Read MoreEuro Markets: EUAs, gas give up Monday gains even as carbon settles into new range
European carbon prices declined on Tuesday amid bouts of sustained selling that drove the market down by 2.3% at one point, as natural gas tumbled by as much as 3.7%, before a late rally in both trimmed losses, helping to consolidate EUAs in a new range.
Read MoreUK launches new taskforce to deliver aviation decarbonisation
The UK government has launched a new taskforce to deliver aviation sector decarbonisation, including a focus on carbon removals.
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