EU carbon prices steady, ignore climate pact delay

LONDON, Nov 16 (Reuters) - European carbon emissions futures were steady on Monday, unaffected by confirmation from world leaders that a legally binding climate pact will be delayed until 2010 or later.

EU Allowances (EUAs) for December delivery CFI2Zc1 inched up 3 cents or 0.22 percent to 13.44 euros ($20.13) a tonne at 0754 GMT.

"Delays to a legal treaty have already been factored in. Firm German power and oil are supporting prices. There might also still be some profit-taking after falls last week," an emissions trader said.

U.S. President Barack Obama and other world leaders on Sunday supported delaying a legally binding climate pact until 2010 or even later. [ID:nSP284703]

Traders said the delay was widely expected. Climate talks in Barcelona at the start of November alluded to delay and several negotiators since then have said a legal treaty in Copenhagen this December would not be achievable.

U.S. oil CLc1 clawed back some of last week's 1.4 percent losses on Monday and rose a dollar to above $77 a barrel, as a weaker U.S. dollar and improved sentiments over the economic outlook encouraged traders to push up crude prices. [O/R] Positive data from Japan, the world's third-largest energy consumer, whose economy expanded 1.2 percent in the third quarter from the previous three months, also lent support to oil prices.

German Calendar 2010 baseload power BY1DE-1Y was up 90 cents or 1.98 percent at 46.40 euros per megawatt hour.

U.N.-backed certified emissions reductions (CERs) CEREZc1 were slow to trade. (Reporting by Nina Chestney; Editing by Anthony Barker)