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EU Carbon Allowances Rise as Oil Trades Near Four-Week High

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Dec. 27 (Bloomberg) -- 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.

To contact the reporter on this story: Ewa Krukowska in Warsaw at

To contact the editor responsible for this story: Lars Paulsson at

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