The ICE daily CER continued to trade as a political option with notional pricing, losing another 2 Eurocents (13 Eurocents on four consecutive losing days) after artificially having been driven up five trading days ago by a short squeeze. It finished the day at 0.18 EURO (-10.00%). The rest of the market remains beneath this price and ERUs are trading around 35% of this price. Only a political decision to address massive oversupply can turn things around and it looks like such a decision is becoming a long-shot in the EU ETS. In the meantime, too many ERUs and CERs already flood the market and more are printed every month.