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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Investment funds are expecting a future hike in the price for UK Carbon allowances, with net long position reaching an all-time high, according to BloombergNEF.
- Net positions rose to a record 6.6mn long on 31 May from 2.4 million allowance short at the start of February.
- The bullish stance on UK carbon allowances is due to the volatile renewable generation – which could open the room for fossil generation, policy uncertainty and some recovery in the industry.
- EU carbon prices are also adding support.
- UK Carbon allowances reached £46/t CO2e on 6 June, up from a low of £30/t CO2e at the end of January.
- But the opposite trend was seen in EU ETS positioning, with investment funds positioning turning more bearish as net short positionings increased.
- EUA DEC 24 down 0.5% at 71.73 EUR/MT.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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