The European carbon market recorded its strongest daily gain in two weeks on Tuesday. After three consecutive bullish sessions, the EUA Dec ’25 contract climbed 1.63% to close at €81.22, recovering part of the losses seen earlier in the month.

The rebound was supported by firmer gas prices, with the TTF front-month contract reaching a two-week high as “cold weather across Europe boosted demand for gas heating and increased withdrawals,” Reuters reported.

Data from Gas Infrastructure Europe for 17 November shows EU gas storage levels at 81.68% capacity, well below the 90.74% recorded at the same time last year and 98.91% the year before. Storage withdrawals are also expected to pick up in the coming week as wintry conditions persist across much of the bloc.

However, the market eased again on Wednesday morning in line with softer gas prices, following forecasts that milder temperatures will return next week. Still, analysts at Engie Energy Scan note that a prolonged downturn appears unlikely.