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EUA prices end the week lower

Prices of EU carbon allowances (EUAs) for delivery in December finished down almost 1% on Friday due to profit-taking.

The EUA futures contract for December 2012 delivery finished at € 7.26 on ICE Futures Europe in London, down 6 cents (0.8%).

The EUA contract rose to € 7.43 in morning trade, after opening at € 7.32, but retreated to € 7.15 in the afternoon, an intraday low.

EUA prices moved lower due to profit-taking after rising to a three-week high in the morning (the highest level since December 29). Moreover, carbon gained almost 7% yesterday.

EUAs were also, however, driven lower by weaker oil prices which moved south on concerns about demand and a stronger dollar.

Front-month Brent crude oil fell below $ 110 a barrel in afternoon trade on ICE from $ 111.55 at the close yesterday.

EUA prices traded in a range of € 6.61-7.43 this week and gained 3.9% on last Friday’s close, mainly on a stronger euro.

The CER futures contract for December 2012 finished down 4 cents (1%) at € 3.79 in London.

On BlueNext in Paris, the EUA spot contract lost 4 cents (0.6%) to € 7.03.

Source: ICE Futures Europe, BlueNext, EEX, Reuters