Euro Markets: EUAs fall back amid ‘flash crash’ on ETS reform headlines, UKAs plunge more than 10%

EU carbon prices endured one of their most volatile sessions of recent months as prices dropped as much as €3.30 in less than 10 minutes in response to headlines relating to European Union discussions over market reform for Phase 5, before clawing back the entire decline as traders processed the news, while UK Allowances fell by the most in nearly four years on what many said was selling linked to the worsening political climate in the country.