Euro Markets: EUAs post late rally amid another headline surge in UKAs, as markets await news on Ukraine ceasefire

European carbon prices moved in a comparatively narrow range for much of Tuesday, before rising steeply in the wake of another UKA rally fuelled by headlines and as the effect of March options open interest continued to grow, while energy markets waited for the outcome of talks between the US and Russian leaders over a potential ceasefire agreement in Ukraine.