Euro Markets: EUAs slide nearly €2.50 amid non-stop spec selling after EU agrees supply hike to 2030

It was a risk-off Friday for carbon as EUAs wiped out two days of gains, falling by more than €2.00 amid non-stop selling by speculative and algorithmic traders, after EU member states and the Parliament agreed late on Thursday to hand out as many as 120 million additional permits to industries by 2030, and as gas and power also sold off heavily.