European carbon prices climbed sharply through the autumn. Allowance futures hit €88.3 per metric ton on 12 October, around $102, the highest since January. August had averaged just €82.3. Traders reacted to reform talks among environment ministers in Brussels, gas market moves & hopes for a European Union, United Kingdom summit on 20 November. Italy & the Czech Republic want to suspend the transfer of 190 million allowances into a reserve designed to tighten supply. Final negotiations begin in January.