Dear Sir or Madam,
The European elections have clearly shown that it is not advisable for established politicians to meet arrogance with young people who are well-founded worries about the future. Environmental and climate protection was therefore an important issue for the electorate, especially among the younger to mid-forties. The German CDU / CSU Union and especially the SPD suffered heavy losses, while the Greens won the election day. More than one in five Germans voted for the Greens with visibly increased turnout; in the voters until the middle of 20 even every third person. Whether the grand coalition in Germany will be continued until the end of the legislative period in view of these election results will be shown in the coming weeks. However, one thing should be clear – the issue of climate and environmental protection will not disappear again in the coming weeks and it would be very surprising if the losers of yesterday evening did not try to outdo each other with ideas to score points here.
Oil prices dropped sharply on Thursday, helped by significantly increased US crude oil inventories, which rose 4.7 million barrels last week. Regardless, CO2 emission rights prices rose again from the previous week, closing at just under 2%. This week there will be only one auction on EEX for 2.495.000 EUA on Tuesday, but this should already be priced in. Among other things, financial markets should be busy analyzing the outcome of the European elections in the coming days, which should also apply to the market for emission allowances.
| (Average Quotes Exchange / OTC) | ||||
| Instrument | 2019-05-17 | 2019-05-24 | Change | |
| EUA (Spotmarket) | 24.94 EUR | 25.42 EUR | +0.48 EUR | |
| EUA (December-2019-Future) | 25.00 EUR | 25.47 EUR | +0.47 EUR | |
| CER (Spotmarket) | 0.22 EUR | 0.21 EUR | -0.01 EUR | |
| ICE Brent Crude Oil (Benchmark Future) | 72.08 USD | 68.41 USD | -3.67 USD | |
| EURO (Currency, Forex) | 1.1157 USD | 1.1204 USD | +0.0047 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.
With kind regards,
Advantag Services GmbH