Dear Ladies and Gentlemen,
After a rather cautious start of the last week, the bulls on Tuesday took over the command on the market for European pollution rights. Nearly undisturbed, the buyers pushed the price upwards. On Thursday afternoon even the five-euro line was broken and on Friday with almost EUR 5.20 the price reached the level last seen in mid-March. Such an enormous price jump of more than EUR 0.50 within a few days usually arouses strong interests in profit-taking, and indeed a lot of cash was made in the last trading hours. As a result the price lost a lot of its former gains and closed at EUR 4.89, well below the five-euro mark.
In the meanwhile, the oil price continuously rose and is now slowly moving towards its highest level of 2017. While at the beginning of the week the price still was supported by speculations on a maintaining output reduction, later the unexpected military decisions of the USA with regard to Syria and North Korea pushed the oil price up.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2017-04-07 | 2017-03-31 | Change |
| EUA (Spotmarket) | 4.88 EUR | 4.68 EUR | +0.20 EUR |
| EUA (December-2017-Future) | 4.89 EUR | 4.69 EUR | +0.20 EUR |
| CER (Spotmarket) | 0.26 EUR | 0.27 EUR | -0.01 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 55.18 USD | 53.63 USD | +1.55 USD |
| EURO (Currency, Forex) | 1.0592 USD | 1.0665 USD | -0.0073 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 have 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. These 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