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EU carbon market update, 23 April 2019

There were small gains for carbon last week, continuing the recent bull run, albeit only just. The week closed up 31c at €26.89 having been in 'holiday mode' for much of the week. We went into the week with a bullish outlook based on the low auction supply but expected some risk-off trading by long speculators as we approached the Easter weekend, and so it transpired. There were three days of gains followed by a decline on the fourth day with traded volumes tailing off as the week progressed.