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Carbon prices extend 4-week high


09 Aug 2022 14:21

09 Aug 2022 14:21

(Montel) Europe’s benchmark carbon price extended a four-week high on Tuesday, buoyed by the prospect of rising demand for fossil-fuel generation for cooling amid forecasts for more hot spells across the region.

The Dec 22 contract last traded up EUR 1.94 at EUR 85.75/t on Ice Endex. Earlier, it reached EUR 85.99/t, its highest level since 13 July, and today’s increase follows profit-taking in the previous session that ended a seven-day rally. 

“Yesterday was more of a breather session and near term outlook is bullish from all drivers including technical indicators,” said Refinitiv analyst Yan Qin, adding halved auction…

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