Dear Sirs and Madams,
For the Western industrialised nations, the war in Ukraine and the conflict in the Middle East represent two pressing areas of concern that are affecting economic growth and the stability of the energy supply of fossil fuels.
By now, all parties to the aforementioned wars seem to have realised that it makes sense, both domestically and economically, to prepare an exit strategy.
To what extent this is within reach cannot be predicted with any certainty by the key players; however, there are increasing signs that the conflicts could come to an end.
Needless to say, the main focus now is on achieving this in a way that preserves some degree of face, so that each party can present itself as a winner in some capacity.
To the extent that these signs of détente continue to mount, this could send further bearish signals to the energy markets, which should have the opposite effect on emissions allowances.
Over the past trading week, EU emission allowances therefore rose moderately, trading within a range of 72.71 to 77.11 euros in the December benchmark contract.
On a closing price basis for the week, they ultimately showed a gain of 1.7%, whilst UK Natural Gas, for example, fell by 4.3%.
This week, due to the public holiday and the long weekend on Friday, a total of 6,949,500 EUAs will be auctioned on the Leipzig EEX over just three trading days.
It will not be until the 24th calendar week, which begins on 6 June 2026, that the maximum weekly volume will again be auctioned over five days.
| Instrument | 01/05/26 | 08/05/26 | Change |
| EUA (December-2026-Future) | 73.94 EUR | 75.18 EUR | +1.24 EUR |
| EUA2 (December-2028-Future) | 67.41 EUR | 67.00 EUR | -0.41 EUR |
| nEZ25 (national German Emission Certificates) | 55.00 EUR | 55.00 EUR | +0.00 EUR |
| UKA (December-2026-Future (UK)) | 49.88 GBP | 50.05 GBP | +0.17 GBP |
| UK Natural Gas (December-2026-Future) | 117.87 GBP | 112.80 GBP | -5.07 GBP |
| ICE Brent Crude Oil (December-2026-Future) | 87.40 USD | 87.28 USD | -0.12 USD |
| EURO (Forex) | 1.1721 USD | 1.1787 USD | +0.0066 USD |
(EUA, EUA2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. This market information has just an informational character and are no advice or offer to trade emission allowances 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 book here a call with one of our specialists.
With kind regards,
Your Advantag – Team