Euro Markets: Buyers defend EUAs after 4% drop to leave market poised ahead of REPowerEU talks

EUAs dropped by as much as 4.7% as traders appeared to suffer jitters ahead of this evening's trilogue meeting to negotiate a compromise package on the REPowerEU package, which is expected to involve bringing forward EUA auctions to raise funds, while gas markets weakened amid forecasts that EU storages will be higher than normal at the end of the coming winter.