(Montel) European carbon prices climbed to fresh six-month highs on the back of several bullish short-term signals on Friday, though analysts warned of a potential correction if high energy prices lead to less energy demand or if there was a downturn in Europe’s economy.
The benchmark Dec 22 EUA contract was last seen at EUR 97.66/t, up EUR 1.62 on the day after hitting a fresh high of EUR 98.05/t earlier on Friday.
It has surged 10% this week and is nearing the all-time high of EUR 98.49/t from February.
Market participants said prices were driven by expectations of increased use for thermal power this autumn amid low nuclear and hydropower output…
