Euro Markets: EUAs hit six-week peak as first technical level breached, while front-year UKAs hit 18-month high

EU carbon allowance prices rose for a second day, overcoming a key resistance level and setting a six-week high as bullishly positioned traders eyed a second technical level, after weekly positions data showed speculative traders had amassed the largest net long position in a month, while UKAs extended their recent gains to set a new 18-month high for the rolling front-year contract.