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POSITIONING – EUA Investment Funds Positioning Turns More Bearish

EMISSIONS

Investment funds positioning in EU ETS futures has turned more bearish for the fourth consecutive week with net short positioning increasing with the latest Commitment of Traders data as of 21 June.

  • Investment Funds net short positionings increased by 4,455 to -18,149 – the most bearish since end April.
  • Investment Firm net short positionings rose by 6,690 to -270,641 – the most bearish since mid December.
  • Commercial Undertaking net long positionings rose by 2,690 to 208,365, the highest since end March.
  • EU ETS Dec 24 has been pulling back last week, tracking losses in European natural gas prices, while seasonally lower demand from the power sector has also been weighing on prices. EUA prices this week are still down but showed signs of a slight rebound.

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