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EMISSIONS: Funds Positioning Most Bearish Since Mid-March

EMISSIONS
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Funds positioning in EU ETS futures on the ICE exchange turned more bearish again with net short positionings at the highest since mid-March, the latest COT data as of 4 October showed.

  • Investment Funds net short positionings increased by 6,902 to -26,184 – the highest since mid-March.
  • Investment Firm net short positionings edged higher by 2,244 to -354,430 – the highest since March 2023.
  • Commercial Undertaking net long positionings increased by 11,601 to +301,347,752 – highest since mid-December 2022.
  • EU ETS Dec24 allowances saw a weekly increase of around 7.5% last week amid weak economic sentiment, forecast for mild weather and high wind output. EU carbon allowances diverged from moves in EU natural gas markets that were supported by heightened geopolitical risks.

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Funds positioning in EU ETS futures on the ICE exchange turned more bearish again with net short positionings at the highest since mid-March, the latest COT data as of 4 October showed.

  • Investment Funds net short positionings increased by 6,902 to -26,184 – the highest since mid-March.
  • Investment Firm net short positionings edged higher by 2,244 to -354,430 – the highest since March 2023.
  • Commercial Undertaking net long positionings increased by 11,601 to +301,347,752 – highest since mid-December 2022.
  • EU ETS Dec24 allowances saw a weekly increase of around 7.5% last week amid weak economic sentiment, forecast for mild weather and high wind output. EU carbon allowances diverged from moves in EU natural gas markets that were supported by heightened geopolitical risks.