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Jul 4, 20231 min read

EU ETS Report Week 26

Gains at the start of the week were chaotically lost from Wednesday onwards as the price of EUAs fell from highs of just shy of €96 on Tuesday to close the week at €87.55, registering a 4.5% week on week decline. The rally up to €96 was seen by most participants as investment funds’ short covering as previous Commitment of Traders reports showed how they had built up their largest ever net short position. With the investment funds having retreated from the EUA market since the short squeeze, EUAs will likely be even more exposed to the volatility stemming from European energy markets and the wider political situation across the continent.


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The information contained within this report is given in good faith based on the current market situation at the time of preparing this report and as such is specific to that point only. While all reasonable care has been taken in the preparation and collation of information in this report Hecla Emissions Management (and all associated and affiliated companies) does not accept any liability whatsoever for any errors of fact or opinion based on such facts.

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Some industry information relating to the shipping industry can be difficult to find or establish. Some data may not be available and may need to be estimated or assessed and where such data may be limited or unavailable subjective assessment may have to be used.

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No market analysis can guarantee accuracy. The usual fundamentals may not always govern the markets, for example psychology, market cycles and external events (such as acts of god or developments in future technologies) could cause markets to depart from their natural/usual course. Such external events have not been considered as part of this analysis. Historical market behaviour does not predict future market behaviour and shipping is an inherently high risk business. You should therefore consider a variety of information and potential outcomes when making decisions based on the information contained in this report.

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