According to the latest Commitment of Traders report just released by ICE, investment funds participating in the European carbon market raised their net long positions to 94.7 million allowances in the week ending October 17, marking a 4.3% increase compared with the previous week.
European carbon prices recovered from early losses last week but failed to climb back above the €80 mark seen the week before. The EUAs consolidated during the latter half of the week, hitting a high of €79.90 on Friday before closing at €79.46, nearly unchanged from the previous Friday.
German media report that industry representatives from the EU’s largest economy want free allocation to continue beyond 2034, when it is scheduled to end under the new Carbon Border Adjustment Mechanism.
According to the latest Commitment of Traders (CoT) report published this morning by the ICE platform, investment funds increased their net long holdings to 90.8 million allowances, up from 85.7 million in the previous week, confirming speculative optimism.
The European carbon market extended its bullish streak on Friday, with the EUA Dec25 briefly reaching €80.37, its highest level since 13 February. Despite losing some momentum later in the session, carbon still managed to post a modest weekly gain of 0.65%, settling at €79.68.
According to ICE’s Commitment of Traders latest report, published on Wednesday and based on market data up to 3 October, investment funds resumed increasing their net long positions in EUAs after a modest reduction in the previous week.
The European carbon market extended its upward momentum in early Friday trading, after the EUA Dec ’25 contract settled at €77.43 on Thursday, the highest close in two weeks. This morning, carbon briefly reached €79.27, a level last seen on February 17.
The latest Commitment of Traders (CoT) report released by ICE yesterday, based on data as of last Friday, showed that investment funds trimmed their net long holdings to 76.2 million allowances, down from 78.0 million the previous week.
On the final day for surrendering allowances for the previous year’s emissions, the European carbon market reversed course, ending a two-day advance. The EUA Dec ’25 contract settled at €75.72 on Tuesday, down 1.39%.
On Friday, the market saw modest gains, with EUAs closing at €75.98. Despite this uptick, prices ended the week 2% lower, marking the steepest weekly drop since early August. Trading activity also eased, with weekly turnover in Dec’25 contracts sliding from 137 million allowances to 120 million, the lowest level this month.