CFTC: CCA investors opportunistically build V25 length as unresolved risks weigh on prices

Investors used California Carbon Allowance (CCA) price weakness to rebuild V25 exposure at the expense of longer dated contracts, while reducing RGGI Allowance (RGA) holdings, under the unresolved spectre of potential federal legal action against US state-led ETS programmes and ongoing regulatory delays, data published Friday by the US Commodity Futures Trading Commission (CFTC) showed.