European carbon futures gained nearly two percent on Monday on stronger oil and natural gas, reversing three straight days of losses, traders said.
EU Allowances for delivery in December added 22 cents at 11.50 euros per tonne at 0805 GMT (4:05 a.m. EDT).
Volume was on the light side at 432 lots traded.
We're higher on stronger crude oil and gas prices, but we're barely up, said one emissions trader.
U.S. crude oil futures rose toward $53 a barrel, continuing its fifth week of gains, bolstered by expectations that the U.S. Treasury's efforts to stabilize the ailing financial system could speed up a recovery of the U.S. economy.
German Cal '10 baseload power rose 95 cents to 49.80 euros per megawatt hour.
Benchmark EUAs touched a 2-month high of 13.04 euros last Wednesday, but lost 13.5 percent late last week on profit-taking, traders said.
Spot EUAs trading on BlueNext had not yet traded, nor had U.N.-approved CER offsets traded on the European Climate Exchange at 0815 GMT (4:15 a.m. EDT).