LONDON (Reuters) - Kyoto Protocol carbon offset futures rose by 3.8 percent to a seven-week high early on Thursday as concerns grew over short-term supply after a fourth hydrofluorocarbon (HFC) project was put under review by the UN.
Benchmark Certified Emissions Reduction (CER) prices climbed to 13.04 euros a tonne by 0824 GMT, the highest since July 2. Volume was heavy at over 2,250 lots traded.
The spread between Dec-10 CER futures and the equivalent European Union carbon permit futures (EUAs) narrowed to 1.44 euros a tonne, the lowest since the end of May and down 67 cents or 32 percent from Monday's close of 2.11 euros.
