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EU carbon up on UK gas as strike fears weigh

LONDON (Reuters) - European carbon emissions futures inched up on Wednesday, tracking gains in British gas prices, as concerns grew that strike action could cut gas supplies to Britain over the next few days, traders said.

LONDON (Reuters) - European carbon emissions futures inched up on Wednesday, tracking gains in British gas prices, as concerns grew that strike action could cut gas supplies to Britain over the next few days, traders said.

EU Allowances for December delivery were up 11 cents or 0.70 percent at 15.90 euros ($19.63) a tonne at 0707 GMT, with 1,309 lots traded. EUAs traded between 15.94 euros and 15.75 euros in the first hour of trade.

The Dec-10 contract rose to a five-week high of 16.12 euros on Tuesday, pushed up by utility hedging and short-term buyers after a rally in UK gas prices.

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