LONDON (Reuters) - European carbon futures broke below 14 euros for the first time in three months on Tuesday, a day after tumbling by 4 percent, as speculators weighed on the market in the absence of utility buying, traders said.
EU Allowance futures for December delivery fell as low as 13.96 euros a tonne by 0925 GMT, down 11 cents or 0.8 percent from Monday's close.
Traders are questioning when utilities, the main compliance buyers in the European Union's Emissions Trading Scheme, will return to seek bargains and support EUA prices, thereby curbing the speculative short-selling that has pushed the futures to these levels.
