September 24, 2010 / 12:04 PM / 8 years ago

EU carbon prices inch up towards 15 eur/t

LONDON (Reuters) - European carbon emissions futures edged up on Friday, trying to regain some ground from the previous session’s losses, traders said.

EU Allowances for December delivery were up 3 cents or 0.2 percent at 14.92 euros ($19.91) a tonne, with light volume of 675 lots traded.

Certified emissions reductions were slow to trade.

“There isn’t a lot happening yet — there could be more movement later and I would think that will be toward the 15 euro level,” said an emissions trader.

Dec-10 EUAs traded in a narrow 30 cent range on Thursday, sinking to an intra-day low of 14.89 euros due to the lack of buyers and worries about economic recovery.

“After hitting a new low level, the contract should rebound today and close the week around 15 euros a tonne,” said Emmanuel Fages at Societe Generale/orbeo.

German Calendar 2011 baseload power on the EEX was up 16 cents or 0.33 percent at 49.29 euros per megawatt hour.

Oil fell below $75 on Friday as investor unease about the global economic recovery spread across markets after lackluster U.S. employment and housing data, sending equities lower and the dollar higher.

Reporting by Nina Chestney; Editing by Vera Eckert

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