EU carbon emissions futures fall to 7-week low
LONDON |
LONDON (Reuters) - The benchmark contract for European Union carbon emissions permits fell below 13 euros a tonne to a seven-week low on Friday as energy prices weakened, traders said.
EU Allowances (EUAs) for December delivery dropped nearly 3 percent to 12.98 euros ($19.31) a tonne before recovering slightly to 13.00 euros by 1547 GMT.
"The general energy complex is weak. Support broke when prices fell through a technical level of 13.30-13.40 euros this morning," an emissions trader said.
EUAs last traded below 13 euros on October 5, when prices sank to 12.92 euros. (Reporting by Nina Chestney; Editing by XXX)
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