The ICE exchage from London closed up its operations on July 28:
- EUA spot closed at € 6.17
- EUA DEC14 futures closed at € 6.22
- CER futures contract Dec14 closed at € 0.17
- Brent Crude Front Month closed at $ 107.67
- German Power Front Month closed at € 31.25
European Carbon Market
EUA prices also rallied on Friday afternoon, paid up on a rallying energy complex and decent sentiment, the Dec 14 traded up to €6.16, settling €6.15. The contract remains within its present range – strong support below/around €6.00 materialised on Friday, with gains toward €6.20 well resisted.
Summer auction volumes will be implemented at ICE and at EEX from the 1st August (Friday), this will see auction volumes halve. We believe that risk is to the upside, as reduced volumes raised the possibility of supply squeeze.
Source: The ICE/London, EEX/Leipzig, July 2014