Emissions Trading / Carbon Market News (2017-06-12)

Dear Ladies and Gentlemen,

The two highly anticipated elections in the UK and France could not have shown more different results. While Theresa May, after David Cameron’s Brexit referendum, plunged the country a second time into chaos, the French President Macron has succeeded in mobilizing a large majority for his government work. However, it is difficult to predict how these two elections will affect Europe in the future.

The traders in the carbon market reacted reserved and unimpressed. The price for the European Pollution Right has therefore moved sideward in a range between EUR 4.90 and EUR 5.20 for the third week in a row. This week there are no auctions on the EEX on Thursday and Friday, which could give the course a bit of a hold.

After a serious recovery in the oil market at the beginning of May, prices actually have fallen to their lowest level this year. Apparently, the US Department of Defense Wednesday’s stock report, which showed a sharp increase in crude oil inventories, continues to affect the behavior of the traders. These apparently reveal new doubts about the effectiveness of the OPEC production cuts and take delicate price increases immediately as sales signals.

Notable was the unusually high-profile meeting between the Governor of California, Jerry Brown and China’s state and party leader Xi Jinping last week. After the US President’s cancellation to the Paris Climate Protection Agreement, the two politicians agreed to cooperate closely with renewable energies and environmentally friendly technologies as part of their own climate treaty. The initiative of the most populous US federal state is by no means an exotic one. In the meantime, an initiative against the withdrawal from the world climate agreement has been formed in the USA. Under the motto “We are still in”, nine federal states as well as numerous cities, universities and hundreds of companies have undertaken to implement the aims of Paris despite the cancellation of their president.


(Average Quotes Exchange / OTC)      
Instrument 2017-06-09 2017-06-05 Change
EUA (Spotmarket) 5.04 EUR 5.17 EUR -0.13 EUR
EUA (December-2017-Future) 5.04 EUR 5.17 EUR -0.13 EUR
CER (Spotmarket) 0.22 EUR 0.21 EUR +0.01 EUR
ICE Brent Crude Oil (Benchmark Future) 48.17 USD 49.42 USD -1.25 USD
EURO (Currency, Forex) 1.1196 USD 1.1257 USD +0.0061 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 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.)

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