EMISSIONS: Funds Reduce EUA Net Long Positions

Investment Funds slightly reduced their net long positions in ICE EUAs, driven by a decline in options net longs, according to the latest CoT data as of 18 September. * Combined EUA futures and options Investment Funds net long positions edged down by 325 to +33,783. Funds futures net longs edged up by 703 to +32,181, while options net longs decreased by 1,028 to +1602. * Combined Investment Firms net short positions decreased by 1,954 to -294,336. Futures net shorts increased by 979 to -298,289, while options net longs increased by 2,933 to +3,953. * Commercial Undertakings net long positions decreased by 2,124 to +214,846. Futures net longs decreased by 263 to +219,794, while options net shorts rose by 1,861 to -4,949. * EUAs Dec26 edged up by around 1.6% last week with increased demand amid the September compliance deadline and increased coal burn in Europe, while markets awaited further policy signals.