Month: June 2018

Dear Sir or Madam,

At the beginning of last week, the ninth Petersberg Climate Dialogue with participants from 35 countries came to an end. In preparation for the World Climate Change Conference, which takes place this year in Katowice, Poland, the participants voted in favor that the implementation rules for the 2015 Paris Climate Change Agreement could be adopted. Here, the gradual migration of a socially acceptable exit from the fossil fuels is to succeed. Already in 2013, the World Climate Change Conference took place in Poland, which, unlike any other country, is supposed to change its energy policy with regard to its dependence on the production and generation of coal.

Meanwhile, European carbon rights prices rebounded last week from the previous week’s losses and rose back above the current high of 15 euros at the end of the week following strong auction demand.

The oil price also rose again after the joint oil ministers’ monitoring committee recommended a production increase of one million barrels (159 liters / barrel) per day, but ultimately only 600,000 barrels more should come on the market.

The member states of OPEC currently produce up to 32.5 million barrels of oil per day, which is ultimately converted into fuels, fuels or plastics, leaving behind significant climate and environmental damage.

Each liter of gasoline produces 2.33 kilograms of CO2 through the combustion engine, 2.64 kilos per liter of diesel and 2.53 kilograms of CO2 per liter of kerosene. Currently, about 675 tons of plastic waste land in the oceans every hour, which takes about 400 years to decompose. More than 100 million tons of plastic produced from oil have now accumulated in the oceans, forming islands of gigantic proportions.

Only an incorrigible optimist can argue here that humanity in its entirety possesses sufficient intelligence to handle these substantial problems of the present and the future.

 

(Average Quotes Exchange / OTC)
Instrument	2018-06-15	2018-06-22	Change
EUA (Spotmarket)	14.52 EUR	14.52 EUR	+0.57 EUR
EUA (December-2018-Future)	14.53 EUR	14.53 EUR	+0.59 EUR
CER (Spotmarket)	0.23 EUR	0.23 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	73.33 USD	73.33 USD	+2.38 USD
EURO (Currency, Forex)	1.1605 USD	1.1605 USD	+0.0048 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

 

Dear Sir or Madam,

The likelihood of a significant negative impact on the global economy continues to increase after US President Donald Trump has imposed his punitive tariffs. Now China has also responded with punitive tariffs on US products worth US $ 50 billion and the US is now threatening further punitive tariffs on Europe and China. Another escalation is more likely to be an agreement with Donald Trump in mind.

The stock markets have remained relatively unimpressed so far, and the US dollar also rose significantly against the euro at the end of last week. This and speculation about increasing oil production in the Middle East and Russia, as well as the OPEC meeting in Vienna next week, added to the oil price.

Ultimately, this unsatisfactory market environment meant that the price of European emissions allowances also moved significantly lower, losing 1.24 euros per tonne. Whether this is the beginning of a major correction before the summer break, remains to be seen and would not be unusual after the strong price gains of the past half year.

This week, 20,658,000 new certificates will be launched through auctions in the EU, Poland and Germany on the Leipzig EEX. It will therefore be interesting to see how auction demand is developing this week.

Today and tomorrow German Environment Minister Svenja Schulze has invited 35 ministers from all over the world to the Petersberg Climate Dialogue in preparation for this year’s World Climate Summit in Katowice, Poland. Important points here are the preparation of possible decisions regarding the implementation of the Paris Agreement on Climate Change and the restructuring of the global economy, which has hitherto been largely based on fossil fuels, towards sustainability.

Whether Germany can still maintain its credibility in terms of global climate protection is doubtful, given the expected significant failure of the CO2 reduction target of 40% by 2020.

 

(Average Quotes Exchange / OTC)
Instrument	2018-06-08	2018-06-15	Change
EUA (Spotmarket)	15.76 EUR	14.52 EUR	-1.24 EUR
EUA (December-2018-Future)	15.82 EUR	14.53 EUR	-1.29 EUR
CER (Spotmarket)	0.23 EUR	0.23 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	76.42 USD	73.33 USD	-3.09 USD
EURO (Currency, Forex)	1.1767 USD	1.1605 USD	-0.0162 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

Dear Sir or Madam,

It would be surprising if US President Donald Trump did not cause another surprise after his premature departure from the G7 summit. And how could it be otherwise – that came in the form of the Twitter message that he completely revoked his approval of the recent statement of G7 participants.

Donald Trump, but also the new government in Italy and the associated fear that Europe will face another ordeal, are currently putting pressure on markets and putting pressure on emissions certificates too.

These showed on Tuesday last week, a new seven-year high at 16.70 euros, but could not maintain this despite respectable auction results due to the prevailing uncertainty of the markets until the end of the trading week. Compared to the previous week, the EUA closed with a loss of 22 cents at 15.76 Euros.

 

(Average Quotes Exchange / OTC)
Instrument	2018-06-01	2018-06-08	Change
EUA (Spotmarket)	15.98 EUR	15.76 EUR	-0.22 EUR
EUA (December-2018-Future)	16.00 EUR	15.82 EUR	-0.18 EUR
CER (Spotmarket)	0.22 EUR	0.23 EUR	+0.01 EUR
ICE Brent Crude Oil (Benchmark Future)	76.05 USD	76.42 USD	+0.37 USD
EURO (Currency, Forex)	1.1649 USD	1.1667 USD	+0.0118 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

 

 

 

 

 

 

Dear Sir or Madam,

One can tell US President Donald Trump a lot, but not that he does not implement his ideas of politics – even against increasing reservations from their own ranks. The extent to which import tariffs on steel and aluminium products from the EU will ultimately burden the European economy is still unclear. 25% on steel and 10% on aluminium will not be without effect. Although possible retaliatory duties on US products may be understandable, they would only further escalate the situation. The US is already isolating itself from its long-term partners with this kind of policy, and Europe now faces the task of building new alliances and consolidating alternative paths.

As expected, the market for European emission allowances did not react very bullishly to the punitive tariffs and visibly weakened on Thursday. However, a new seven-year high last Tuesday was priced at € 16.59 per EUA.

 

(Average Quotes Exchange / OTC)
Instrument	2018-05-25	2018-06-01	Change
EUA (Spotmarket)	15.98 EUR	15.26 EUR	-0.72 EUR
EUA (December-2018-Future)	16.00 EUR	15.29 EUR	-0.71 EUR
CER (Spotmarket)	0.22 EUR	0.22 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	76.05 USD	76.55 USD	+0.50 USD
EURO (Currency, Forex)	1.1649 USD	1.1657 USD	+0.0008 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH