The ICE exchange from London opened down its CO2 operations:
- EUA spot closed at € 6.80
- EUA Dec 15 futures closed at € 6.83
- CER Dec 15 futures closed at € 0.52
- Brent Crude Front Month (April 15): $ 59.79
- German Power Front Month (April 15): € 28.85
The European CO2 Carbon Market
After a calm Easter break, the volume of EUAs traded last week was relatively low and only returned to the average level by Friday.
As trading volumes increased, so too did price fluctuations, with Friday also seeing the benchmark EUA Dec-15 closing below €7. The price correction continued on Monday and the benchmark lost a further €0.14 to close at €6.80, testing the strong support level of €6.75. The week was marked by a lack of news about the MSR and the decline could be explained by this factor; as short positions were taken before the trilogue reconvenes in May.