(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…
