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EMISSIONS: EUA Funds Positioning Turns More Bearish

EMISSIONS

Speculator positioning in EU ETS futures on the ICE exchange turned more bearish for the third consecutive week with net short positioning increasing to the highest since early August, latest COT data as of 6 September showed.

  • Investment Funds net short positionings increased by 7,83 to -21,521
  • Investment Firm net short positionings edged lower by 1,080 to -349,867.
  • Commercial Undertaking net long positionings increased by 4,566 to +291,251 – highest since mid-December 2022.
  • EU ETS Dec24 prices pulled back further last week, with further weakness from natural gas prices as supply risks ease, while mild weather and higher renewables output limited fossil-fuel output for early heating demand. 
     
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Speculator positioning in EU ETS futures on the ICE exchange turned more bearish for the third consecutive week with net short positioning increasing to the highest since early August, latest COT data as of 6 September showed.

  • Investment Funds net short positionings increased by 7,83 to -21,521
  • Investment Firm net short positionings edged lower by 1,080 to -349,867.
  • Commercial Undertaking net long positionings increased by 4,566 to +291,251 – highest since mid-December 2022.
  • EU ETS Dec24 prices pulled back further last week, with further weakness from natural gas prices as supply risks ease, while mild weather and higher renewables output limited fossil-fuel output for early heating demand.