European Union carbon permits rose as oil traded near its highest price in four weeks, boosting demand for emission rights.
EU permits for delivery in December next year advanced 1 percent to 7.19 euros ($9.54) a metric ton on the ICE Futures Europe exchange as of 9:17 a.m. London time. Trading resumed today after two days of public holidays in the region.
Brent crude rose 6 cents to $111.13 a barrel, after rising 2.1 percent yesterday to its highest close since Nov. 30. Oil can influence carbon prices because it’s linked to economic output and to cleaner-burning natural gas in Europe.
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