Euro Markets: EUAs give up early gains as weekend political tensions fail to support gas spike

EU carbon allowance prices jumped as much as 2.6% at the opening on Monday in line with sizeable spikes in natural gas and power, but gave up much of the early gain as gas prices retreated, even after Friday evening's highly-charged meeting between the US and Ukrainian presidents dimmed the chances of a resumption of Russian gas flows to Europe and raised geopolitical tensions across the bloc.