EU CARBON: Permits at 13-Month High17 Feb 2014 09:44
CARBON: Permits Rise to 13-Month High as Traders Bet on Gains
Feb. 17 (Bloomberg) -- Benchmark carbon futures advance to highest in more than 13 mos. as traders bet plan to remove volumes from sales will spur further gains.
Dec. contract rises as much as 3% to EU6.88/mt on ICE Futures Europe in London, highest since Jan. 8, 2013; trades at EU6.85/mt as of 9:42am
“It’s the first time we’ve seen a supply reduction layered into the market,” said Trevor Sikorski, energy analyst in London for Energy Aspects; trading houses, utilities are probably betting prices will go even higher, pre-empting physical reduction in supply, he said today by telephone