Hi Marine Fuels Team,

What happened in the market?
Last Monday saw limited activity due to the holidays, with Dec25 futures hitting the week’s low at €70.40. On Tuesday, trading ended early ahead of the festivities, closing the year at €73.00. The market reopened on Thursday with a nearly €2 uptick. Finally, on Friday, Dec25 futures reached the week’s high at €76.35, marking the highest price since August. The week closed at €75.94, reflecting a solid €4.38 increase compared to the previous week.

Source: Bloomberg

Price & position data

December 2025 Futures December 2025 Futures
Week 1 3 Months ICE position w/w Change
VWAP €73.76 €68.99 Investment Firms -275,814 -1,791
High €76.35 €76.35 Investment Funds 4,550 3,553
Low €70.40 €61.98 Commercial Undertakings 212,401 3,690
Average Daily Volume 19,842 10,493 ETS Compliance Firms 58,276 -4,289
Source: Bloomberg Source: Bloomberg, Definitions on ICE,

Questions about the UK or EU ETS? Email us!

Wishing you all a good week ahead,

Grey Epoch Europe
+44 20 7072 3313