EU Carbon Closes at Seven-Week High as Crude Oil Price Surges
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European Union emission permits advanced to the highest in seven weeks on speculation that crude oil’s surge to a two-year peak may spur demand for carbon allowances.
Carbon for December gained as much as 3.7 percent to 4.72 euros ($6.31) a metric ton on London’s ICE Futures Europe exchange. The contract closed up 1.5 percent at 4.61 euros a ton, the highest since July 3.