Higher oil lifts carbon

Carbon prices firmed by Monday midday amid stronger oil.

By 13.00 CET, the 2009 EUA was trading at €15.23, up €0.33 on Friday’s close.

July Brent crude oil prices rallied above $67/bbl, up more than €1.50 on the previous close.

But liquidity was thin, and the market was quiet with much of Europe on holiday, traders said.

“There is very little going on to measure the market on,” a source said.

In the CER market, the 2009 contract last traded at €12.79, little changed from Friday.