Dear Ladies and Gentlemen,
Now at last it is officially confirmed by the highest authorities: Climate change is not caused by man and therefore can not be stopped. To this realization came no less than the Russian President Vladimir Putin at the Arctic forum in the north-Russian city of Arkhangelsk. Previously, Putin already had welcomed the global climate warming, as this would release raw material resources and transport routes, which had so far been regarded as too expensive. And in this way, he places himself on the same position as US President Donald Trump, who also doubts that industry, transport and other human activities are primarily responsible for global warming. Since this question could now be answered conclusively by such a competent side, the rest of the world’s politicians and scientists no longer have to worry about that.
The price of crude oil rose sharply last week what could be seen as a technical reaction. OPEC and Russia are showing signs for a prolongation of the production cutback, which is supporting the price, while on the other hand the high inventories in the US are thwarting an even higher price increase.
However, the CO2 price was not able to make a large profit from it in the last week. With almost 23 million certificates auctioned by the EEX, we have experienced the highest weekly performance since many years. However, these volumes of fresh certificates as well as the ongoing allocation of free allowances were absorbed by the market quite well, so the correction overall was limited. From its absolute low of 4.58 EUR on Monday the price consolidated up to 4.69 EUR at the settlement on Friday.
|(Average Quotes Exchange / OTC)
|ICE Brent Crude Oil (Benchmark Future)
|EURO (Currency, Forex)
(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