Euro Markets: EUAs back in close formation with natural gas, while UKAs plummet most in six months

European carbon prices resumed their close formation with natural gas prices on Thursday, with EU ETS levels falling 1.6% as the market tracked the ebb and flow of the TTF's reaction to news that Russian LNG transshipments through Europe will be banned, potentially adding to regional supply, while UK Allowances prices were "absolutely smashed" amid a surge of aggressive selling.