World news

EUA prices fall over 3%

Prices of EU carbon allowances (EUAs) fell over 3% on Friday after rising to the highest level in over six weeks in morning trade.

The EUA futures contract for December 2012 delivery finished down 28 cents (3.2%) at € 8.46 on ICE Futures Europe in London.

The EUA contract rose to € 8.90 in morning trade, the highest level since December 21 when it reached € 9.10, before falling to € 8.40 in the afternoon.

EUA prices made gains this morning on cold weather in Europe, which drove German power prices higher, before heading south on profit-taking.

German 2013 baseload power trading on the European Energy Exchange (EEX) finished up 16 cents at € 53.25 per MWh.

Meanwhile, oil prices also made gains on publication of positive employment data from the United States.

Brent crude oil for March delivery rose to $ 113.88 a barrel in afternoon trade on ICE Futures Europe, up $ 1.81 on yesterday’s close.

EUAs fell today after three consecutive days of gains. They traded in the € 7.67-8.90 range this week and gained around 3% on last Friday’s close, mainly on stronger power.

The CER futures contract for December 2012 delivery finished down 17 cents (4%) at € 4.07 in London. 

On BlueNext in Paris, the EUA spot contract ended down 24 cents (2.8%) at € 8.31.

Source: ICE Futures Europe, BlueNext, EEX, Reuters