EU Allowances (EUAs) bounced into month-end, gaining 3.5% on the week, with December 2025 Futures settling on Friday at EUR68.76 per tonne and spot EUAs closing at EUR67.73 per tonne. This marked a modest recovery after a soft April that saw EUAs shed 2.1%, extending YtD losses to 8.84%, broadly in line with other macro asset classes.