The latest Commitment of Traders (CoT) report from the ICE platform, published on Wednesday morning, shows that investment funds lifted their net long holdings (long positions minus short positions) to another all-time high at the end of last week.
The European carbon market was broadly steady on Friday, with the EUA Dec’25 contract settling at €83.79, down 0.13%, after briefly touching €84.40—its highest intraday level since January. Trading volumes were notably light, with just 20.5 million allowances exchanged, the lowest level seen since late October.
On Wednesday, the European Council and Parliament struck a provisional deal to amend the European Climate Law, introducing a binding target of reducing net greenhouse gas emissions by 90% by 2040 compared to levels recorded in 1990.
The latest Commitment of Traders (CoT) report from the ICE platform, published on Wednesday morning, shows that investment funds lifted their net long holdings (long holdings minus short holdings) to another all-time high at the end of last week.
According to ING’s commodities outlook, the European carbon market is expected to tighten in 2026 as supply declines— a development that should keep upward pressure on prices next year. This reinforces the broader analyst consensus that carbon prices are likely to continue rising into 2026.
The wave of optimism that recently lifted the European carbon market to its highest in nine months appears to have eased last week, as prices for Dec’25 contracts slipped in four of the five trading sessions, suggesting a cooling of momentum.
On Wednesday, the European Commission released its latest Carbon Market Report, offering “a comprehensive overview of how the EU ETS performed in 2024 and the first half of 2025.”
The latest Commitment of Traders (CoT) report from the ICE platform, published on Wednesday morning, shows that investment funds lifted their net long holdings (long holdings minus short holdings) to a new all-time high at the end of last week.
European carbon prices continued their upward trajectory into Friday’s session, extending a broadly positive week in which EUAs once again moved in the opposite direction to gas prices. The Dec’25 contract closed the month at €83.26, marking a 6% monthly gain — the strongest increase since January.
The latest Commitment of Traders (CoT) report, published on Wednesday by the ICE platform, shows that as of the end of last week investment funds have trimmed their net long positions (long minus short) to 101 million allowances.