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EUA Speculator Positioning Turns More Bullish

EMISSIONS

Investment funds positioning in EU ETS futures on the ICE exchange turned more bullish for the second consecutive week with net short positioning declining to the lowest since mid-June, latest COT data as of 9 August showed.

  • Investment Funds net short positionings decreased by 4,142 to -14,901.
  • Investment Firm net short positionings increased by 6,257 to -314,989.
  • Commercial Undertaking net long positionings edged higher by 539 to 252,398.
  • EU ETS Dec24 were slightly down week on week at the end of last week despite added support from spikes in natural gas prices due to supply fears with tensions in the Ukraine/Russia and Middle East conflicts. Carbon allowances have rallied this week with ongoing support from natural gas prices, while hot weather in Europe supported fossil-fuel output expectations.

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