European Union carbon emissions futures fell in today’s early trade, in line with softer oil and UK natural gas prices, according to traders.
The benchmark contract for EU Allowances CFI2Zc1 was down 24 cents or 1.80% at €13.10 ($18.85) a ton at 0752 GMT. Volume was light at 336 lots, reports Reuters.
EUAs hit a one-month high of €13.74 on Thursday, but traders said the move was not justified fundamentally and that the rally was overdone.
Prices slipped on weaker gas and power prices on Friday with British natural gas prices for February delivery GM2NBG0 down 1.04% at 33.25 pence per therm on Monday.
German Calendar 2010 baseload power BY1DE-1Y inched up 10 cents or 0.20% at €49.70 per megawatt hour, reports Reuters.