Euro Markets: EUAs set 15-week high on UKA rally, as bullish EU ETS reform sentiment appears to grow

European carbon prices broke above the upper end of an emerging pennant formation and set a 15-week high on Tuesday as the market shrugged off bearish news headlines from the Middle East and took heart from a strong rally in UKAs, as optimism flowered anew that the EU and UK may reach a deal on market linking at their next summit meeting in the summer, while also taking a more bullish view of EU ETS reform.