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EU carbon falls further on oil, power, euro worry

Wed, 05/05/2010 - 1:24am
Reuters

LONDON (Reuters) - European carbon prices continued to slide on Wednesday, dropping nearly 2 percent as lower oil and German power prices coupled with investor worries about the euro weighed on EU emissions permit futures, traders said.

EU Allowances fell as low as 15.61 euros a tonne in early trade. By 0700 GMT the benchmark contracts were trading at 15.71 euros, down 21 cents or 1.3 percent on moderate volumes of around 2,500 lots traded.

Prices have fallen by over 1 euro or nearly 6 percent since hitting a 17-month high of 16.73 euros early on Tuesday.

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