Dear Sir or Madam,
A few weeks ahead of the World Climate Conference taking place in Turkey, the World Meteorological Organisation (WMO) has announced that the concentration of the greenhouse gas CO2 reached a new record high of 426.8 ppm last year. This is 153 per cent higher than before the start of the industrial era in 1750. However, according to the WMO, the rate of increase has slowed compared with previous years.
Meanwhile, natural gas prices are reaching their highest levels since 2022, the year Russia’s invasion of Ukraine began. At the same time, the German Federal Network Agency has announced that the target of 70 per cent gas storage capacity by 1 November 2026 has not been met. German storage facilities are currently only 61 per cent full. However, the agency’s director, Klaus Mueller, does not currently anticipate any imminent gas shortage, though he does foresee significantly rising prices for industry and consumers.
Companies and people in the US are also suffering from sharply rising prices for fossil fuels, with the so-called mid-term elections taking place tomorrow, two years after the presidential elections. Whether US President Donald Trump will seek a negotiated solution to the Iran conflict after the mid-terms remains uncertain and may well depend on the election result.
Also tomorrow, the first of 10 fixed-price sales under the German national emissions trading scheme will take place on the Leipzig EEX; these will be held every Tuesday and Thursday between 9.00 am and 3.00 pm.
In the EU ETS1, auctions for a total of 9,922,500 emission allowances are being offered over four trading days. Here, prices moved towards a nine-month high last week and briefly broke through the 90-euro mark on Friday, reaching 90.15 euros in the benchmark contract. On a closing price basis for the week, EUAs rose by 3.4 per cent.
| Instrument | 23/10/26 | 30/10/26 | Change |
| EUA (December-2026-Future) | 86.26 EUR | 89.19 EUR | +2.93 EUR |
| EUA2 (December-2028-Future) | 70.00 EUR | 71.00 EUR | +1.00 EUR |
| nEZ26 (national German Emission Certificates) | 68.00 EUR | 68.00 EUR | +0.00 EUR |
| UKA (December-2026-Future (UK)) | 64.18 GBP | 65.53 GBP | +1.35 GBP |
| UK Natural Gas (December-2026-Future) | 233.73 GBP | 257.60 GBP | +23.87 GBP |
| ICE Brent Crude Oil (December-2026-Future) | 116.72 USD | 117.67 USD | +0.92 USD |
| EURO (Forex) | 1.1202 USD | 1.1159 USD | -0.0043 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