EU carbon drops to three-week low on debt crisis and oil decline

Italian, Spanish bonds drop on concern debt crisis will worsen further

Brussels: European Union permits to discharge carbon dioxide dropped to the lowest level in three weeks amid falling oil prices and concerns that the region's debt crisis will worsen.

EU permits for December delivery fell as much as 3.3 per cent to €11.60 (Dh60.40) a metric tonne, the weakest intraday level since July 12. The contract was down 2.8 per cent at €11.67 on the ICE Futures Europe exchange in London, extending its loss to 18 per cent this year.

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