European Carbon May Decline to Record as Glut Expands
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European Union emission permits are poised to drop to a record in the first half as member states in the world’s largest carbon market fail to diminish the biggest-ever glut.
Allowances will fall below the record 5.93 euros ($7.75) a metric ton reached last month, according to all nine analysts surveyed by Bloomberg News. That implies a decline of at least 8.3 percent from yesterday’s closing price. The surplus may rise 18 percent this year, according to Bloomberg New Energy Finance.