According to the latest Commitment of Traders (CoT) report published by Ice exchange, investment funds have continued to lower their net short positions (short-long) for the third week in a row, reaching the lowest level so far this year.
Both gas and carbon markets posted strong gains this morning after Austrian energy giant OMV announced that it had successfully received an arbitral award of over €230 million following proceedings against Gazprom from the International Chamber of Commerce (ICC).
The Global Carbon Project science team, which includes scientists from more than 80 institutions around the world, just published its 19th edition of the Global Carbon Budget, a crucial report that provides information on carbon cycle and anthropogenic emissions.
The European carbon market started the week on a positive note, hitting an intra-day high of €68,80, a level last seen in early September. However, the sentiment changed later in the day with EUAs closing at €67,57 with a daily loss of €0,45. The market continues the downward trend Tuesday morning, with prices dropping briefly […]
Ahead of this week’s UN climate conference COP29, the European Union’s Copernicus Climate Change Service (C3S) published its climate bulletin, reporting on the changes observed in air and sea temperatures.
The European carbon market rebounded on Thursday from the previous sessions’ two-week low, in line with related gas. The EUA Dec’24 contract last traded at €66,04, up 3,6% from Wednesday’s settlement when prices reacted to the negative sentiment triggered by Donald Trump’s reelection.
According to yesterday’s latest Commitment of Traders (CoT) data, investment funds cut their short position last week by almost 13%, from 56,5 million allowances to 49,7 million allowances. Meanwhile, speculators have reduced their long positions as well, from 41,4 million allowances to 39,3 million.
The European carbon market dropped to its two weeks low early Wednesday in response to Donald Trump’s victory in the US Presidential election. The market is factoring in Trump’s promises to pursue a radical shift for the US on climate policies put in place under the Biden Administration.
