Last Friday, the European Commission released preliminary data on verified emissions for 2024, as submitted by Member States by the 31 March deadline. Compared to the previous year, the report indicates a 5% drop in emissions from stationary installations and aircraft operators.
After weeks of anticipation and speculation, Donald Trump managed once again to surprise investors with “the worst case scenario for tariffs,” according to Mary Ann Bartels, executive at US wealth management firm Sanctuary Wealth. Concerns about the impact of US tariffs on the global economic outlook affected all markets following higher than anticipated taxes.
The most recent weekly report of the Commitment of Traders (CoT), published by the ICE platform on Wednesday, revealed that investment funds have reduced their net long positions (long term positions – short term positions ) to 30,3 million allowances, down by nearly 9% compared to the previous report.
The European carbon market saw a modest rise in Friday’s trading, ending the session at €68.80 with a daily gain of €0.26. However, the week closed with a 3.7% decline, largely driven by significant losses on Thursday. As Carbon Pulse pointed out, this marked “the sixth weekly loss in eight weeks.”
According to Carbon Pulse, during Thursday’s closed doors meeting of EU environment ministers, France “added a last-minute item to the agenda,” calling for the introduction of a price corridor, with a minimum and a maximum level, to help stabilize the market.
The most recent Commitment of Traders (CoT) report published by the ICE platform this week, revealed that investment funds have increased their net long positions (long term-short term) to 33,3 million allowances from 31 million allowances in the previous week.
Ahead of the European Commission’s publication of preliminary emissions data for 2024, analysts predict a modest decline compared to the previous year. In 2023, emissions declined by a massive 15,5% driven mainly by the reductions recorded in the power generation sectors.
The European carbon price jumped by almost €1 at the opening on Friday, tracking similar development in gas prices. Meanwhile, TTF front month traded briefly at €45,495/MWh,its highest level in three weeks and almost 6,2% higher compared to the previous settlement.
On Wednesday, carbon prices jumped to their highest in almost a month, tracking massive gains in gas prices. EUA Dec’25 traded as high as €74,23 before closing at €73,44, posting a daily increase of 3%, the biggest since late January.
Both carbon and gas prices rose in early trading on Wednesday driven mainly by the “disappointing lack of progress for the Trump administration on its plan to end the war,” as stated by BBC News describing the phone call negotiation between the US President and Putin which ended after market close yesterday.