Euro Markets: EUAs claw back early losses in energy-fuelled rally as COT shows larger cut in fund shorts

European carbon prices fluctuated in a €2.70 range on Wednesday after relatively rangebound trading on Tuesday as prices moved in sync with swings in energy markets, while the publication of weekly Commitment of Traders data that showed the biggest reduction in investment funds' bearish bets in a month failed to generate a significant response from the market.