EU carbon prices dip but continue range-bound trade

LONDON (Reuters) - European carbon emissions futures were down slightly on Friday, tracking a dip in oil but hovered around steady levels in slow summer trading, traders said.

Benchmark EU Allowances fell 15 cents or just more than 1 percent to 14.28 euros a metric ton. EUA prices have been trading around 14.20-14.60 euros this week.

"It is still very range-bound and it is not doing anything to indicate you might see some breakouts," the trader said.

Spot EUAs on France's BlueNext exchange were down 5 cents, or 0.35 percent at 14.25 euros a metric ton.

Oil was down 31 cents to below $67 a barrel on Friday, after equaling this year's longest rally, due to a fall in U.S. stocks futures following disappointing corporate earnings.

German Cal '10 baseload power was up 20 cents or 0.50 percent at 49.50 euros per megawatt hour.

Kyoto-backed certified emissions reductions (CERs) fell 4 cents, or 0.31 percent, to 12.80 euros a metric ton.

(Reporting by Michael Kahn)