LONDON, Oct 2 (Reuters) - European carbon futures were down slightly in early trade on Friday, following power and oil, traders said.
EU Allowances for December delivery CFI2Zc1 were down 1.7 percent or 22 cents at 13.00 euros a tonne at 0740 GMT.
“It’s slightly weaker on energy,” one emissions trader said.
“We’ve had a lot of positioning ahead of past auctions,” he added, referring to next week’s British auction of European Union allowances (EUAs). He expected some strategic trading later on Friday or early next week.
U.S. crude oil futures CLc1 fell by more than $1 to below $70 a barrel, driven lower by the dollar’s recovery and concerns over U.S. employment data due on Friday, while worries over the West’s talks with Iran about the OPEC member’s nuclear plan eased. [O/R]
German Calendar 2010 baseload power F1BYc1 was down 45 cents at 46.6 euros.
Benchmark CERs CEREZc1 were unchanged at 11.82 euros a tonne, setting the EUA-CER spread at 1.18 euros.
Democrats in the U.S. Senate, who this week sketched out legislation to tackle global warming, now faced the hard part — convincing enough fence-sitters to join their cause.
“We have to bring people to the table. This is a starting point ... the opening of the negotiating process,” Senator John Kerry, co-author of the Democrats’ proposals, told Reuters in a telephone interview. [ID:nN01280715] (Reporting by Gerard Wynn; Editing by Keiron Henderson)
