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CARBON (€/T) MON TUE VAR D-1 VAR W-1AVG.MAXMIN 2/33/3FROM THE BEGINNING OF THIS YEARCO2 EUA DEC 202670.57 73.332.762.6681.2792.2469.18CO2 EUA DEC 202772.56 75.502.942.8783.5694.8071.09CO2 EUA DEC 202874.71 77.873.163.0986.1497.7373.28CO2 EUA DEC 202977.20 80.763.563.489.12101.0475.83UK ETS DEC 26 EUR 51.63 52.821.190.5768.0084.0251.63UK ETS DEC 27 EUR 53.83 55.241.410.7270.9287.6153.83UK ETS DEC 28 EUR 56.29 57.701.410.6174.2391.4656.29European carbon markets surged on Tuesday, as utilities reportedly increasedEUA purchases to hedge higher coal burn amid a sharp surge in gas prices. Asa result, the EUAs expiring in Dec-2026 rose by 4% to 73.33 EUR/tonne.CO2 EUAEXCHANGE RATES MONTUEVAR D-1 VAR W-1AVG.MAXMIN 2/33/3FROM THE BEGINNING OF THIS YEARRATE EUR/USD1.1698 1.1606-0.0092-0.01711.17701.19741.1606RATE EUR/GBP0.8739 0.8717-0.0022-0.00140.86960.87630.8616RATE GBP/EUR1.1443 1.14720.00290.00191.14991.16061.1412The EUR/USD pair dropped close to 1% to 1.1606 pressured by Middle Easttensions that boosted safe-haven flows into the dollar. This overshadowedEurozone inflation, where February HICP rose to 1.9% YoY and core to 2.4%.The EUR/GBP rate edged 0.3% lower at 0.8717 as traders pared back bets ona March BoE rate cut, amid fears that oil supply risks through the Strait ofHormuz could sustain inflationary pressures.