Emissions Trading / Carbon Market News (08/06/2020)

Dear Madam or Sir,

With the beginning of the easing of the global corona measures, crude oil has recovered significantly in the past weeks and by the end of the past trading week rose again above the $ 40 mark for the Brent variety. The price of fossil fuel has almost tripled since the lows in April, which is also due to the fact that the number of active oil rigs has decreased by around 65% since March.

It would be premature to see the end of the oil age due to the corona crisis, but the trend towards energy from renewable sources is strengthening. And the decision of the German government to increase the purchase premium for electric cars again by EUR 3,000.00 and not to pay a premium for vehicles with old-fashioned internal combustion engines shows that a rethink has also started in politics.

At the same time, European measures to combat the corona economic crisis have strengthened the euro, which gained almost two cents against the US dollar last week.

The price of European CO2 emissions rights also rose significantly and broke the 23 Euro mark.

In the new trading week, a total of 11.6 million EUA will be offered for auction at the Leipzig EEX in four auctions, followed by 17 million EUA in the coming week.

  (Average Quotes Exchange / OTC)   
EUA (Spotmarket)21.31 EUR23.13 EUR+1.82 EUR
EUA (December-2020-Future)21.40 EUR23.24 EUR+1.84 EUR
CER (Spotmarket)0.32 EUR0.32 EUR+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)37.57 USD41.90 USD+4.33 USD
EURO (Currency, Forex)1.1094 USD1.1288 USD+0.0194 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