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EU Carbon Nears 3-Week High as Lawmakers Consider Surplus Fix

European Union carbon permits rose to their highest level in almost three weeks as lawmakers reconsidered a plan to temporarily curb supply in the market that they failed to endorse last month.

Allowances for December advanced 2.7 percent to close at 3.75 euros ($4.85) a metric ton on the ICE Futures Europe exchange in London, the highest since May 9. Certified Emission Reduction credits for December gained 1 cent to 40 euro cents a ton, taking this week’s gain to 18 percent.