After several failed attempts, EUAs finally broke through the €80 level last week, briefly reaching €82.41 — their highest since early February. However, following strong gains at the beginning of the week, the European carbon market surrendered much of those advances toward the end.

The EUA Dec’25 contract closed Friday’s session down 0.70%, marking a third consecutive day of losses. Still, despite slipping back below €80, it managed to record a weekly gain of 1.2% — the strongest in more than a month.

Also notable was a sharp increase in liquidity. Weekly trading volume reached 175.8 million allowances — well above the previous week’s 111 million and exceeding this year’s weekly average of around 140 million — suggesting heightened speculative activity.

Once again, the European carbon market opened the new week on a bullish note on Monday. “The market now faces a struggle to consolidate above €80/t again soon or possibly face a sell-off among many speculative investors,” Mind Energy said this morning.