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Dear Sir or Madam,
The US missile attack on the convoy of Iranian general Ghassem Soleimani last Friday is causing prices on commodities markets to rise as escalation is considered highly likely. Gold, in particular, as a crisis indicator, as well as crude oil and gas, have grown strongly since then.
After Brent crude oil prices started more easily into the new year, it rose to just under USD 2.50 on Friday and the likelihood that this trend will continue is shown by the start of today’s trading day, at which the USD 70 mark is reached fell. Any kind of reprisal strikes from Iran that have already been threatened several times have the potential to cause prices to rise further. The engagements of US oil companies in Iraq in particular could now be the focus of Iranian attacks.
In the course of this, the prices for European CO2 emission rights have also become more expensive towards the end of the past trading week after an easier start to the new year. After a decline of EUR 1.61 on the last trading day in 2019 and an equally subdued start in January 2020, prices rose last Friday in the wake of oil prices and have risen above the € 25 mark again today.
Auctions for CO2 emission rights begin again this week at Leipzig’s EEX. A total of 8,544,000 EUAs will be auctioned on Tuesday, Thursday and Friday.
|(Average Quotes Exchange / OTC)|
|EUA (Spotmarket)||26.54 EUR||24.86 EUR||-1.68 EUR|
|EUA (December-2019-Future)||26.70 EUR||24.98 EUR||-1.72 EUR|
|CER (Spotmarket)||0.26 EUR||0.22 EUR||-0.04 EUR|
|ICE Brent Crude Oil (Benchmark Future)||65.12 USD||68.63 USD||+0.51 USD|
|EURO (Currency, Forex)||1.1173 USD||1.1161 USD||-0.0012 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