Speculators realise profits as RGAs peak, build CCA net length

Financial entities have closed out of their long positions in the RGGI Allowance (RGA) futures and options market as prices recorded new all-time highs, and instead boosted their California Carbon Allowance (CCA) holdings, while producers shed their CCAs in favour of RGAs, according to weekly data from the US Commodity Futures Trading Commission (CFTC).