LONDON - European carbon prices fell on Thursday, pressured by lower German power prices.

EU Allowances for December 2010 delivery lost 22 cents or 1.7 percent at 12.78 euros a tonne on around 160 lots traded by 0935 GMT.

The benchmark futures opened unchanged at 13.00 euros, but then lost ground in thin pre-holiday business.

There's no real activity or sentiment ... There are no buyers so there's no support out there, one trader said.

German calendar 2010 baseload power shed 15 cents to 44.55 euros per megawatt hour.

U.S. crude oil futures rose above $77 after surging more than 3 percent the previous day, lifted by a deeper-than-forecast drop in crude and fuel stocks in the world's top energy consumer and as the dollar paused.

Dec-10 EUAs are down 5.9 percent for the week after the market plummeted on Monday following a disappointing outcome to U.N. climate talks in Copenhagen.

The European Climate Exchange will close at 1200 GMT on Thursday, and will reopen on Tuesday, December 29.

Benchmark CER prices also fell in light volume, with the Dec-10 contract losing 6 cents or 0.5 percent at 11.30 euros a tonne on volume of 10 lots.

The EUA-CER spread now stands at 1.43 euros.