EU Carbon Reverses Gains as Volume Climbs to Most in Four Months

EU carbon permits for December reversed early gains as trading on ICE Futures Europe rose to the highest in four months.

Benchmark December carbon closed down 0.5 percent at 4.47 euros ($6.06) a metric ton, according to ICE data. The contracts earlier rose as much as 2 percent to 4.58 euros, the highest since Nov. 15.

London-based ICE handled 37.5 million tons of emissions contracts, the most since July 3, exchange data show. Seven transactions for the December contract totaling 24 million allowances changed hands on ICE today. All the trades were for 1 million tons or more.

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