Emissions Trading / Carbon Market News (2018-01-29)

Dear Ladies and Gentlemen,

ECB President Mario Draghi was not concerned about the rally of the euro against the US dollar since mid-December last week. Since then, the European common currency has increased at around seven cents, but Draghi is by no means using this as an opportunity to practice relaxation exercises with regard to the south European interest and bond policy. Last week alone, the euro gained two cents.

The oil price continued to be bullish last week, closing above the $ 70 weekly line for the first time since summer 2014.

In this market environment, the buyer side also dominated the market for European CO2 emission rights and the EUA set a six-year high at 9.56 euros per ton of CO2e last Wednesday. At the end of the week, the price dropped off again due to profit-taking, but closed comfortably above the nine-euro mark.

The fact, that prices for emission allowances did not yet exert any significant steering effect is confirmed by the fact, that greenhouse gas emissions in Germany once again rose by 2.6 million tonnes in 2016 compared with the previous year. As the Federal Environment Agency reports, emissions from the transport sector in particular have risen again and are now above the 1990 level, which causes almost 167 million CO2. 96% of this is road traffic. This does not surprise, however, when one sees the increasing number of so-called SUVs, which are apparently now similarly popular among office workers, as in forestry workers.


(Average Quotes Exchange / OTC)
Instrument 2018-01-26 2018-01-19 Change
EUA (Spotmarket) 9.06 EUR 8.73 EUR +0.90 EUR
EUA (December-2018-Future) 9.09 EUR 8.76 EUR +0.90 EUR
CER (Spotmarket) 0.17 EUR 0.17 EUR +0.00 EUR
ICE Brent Crude Oil (Benchmark Future) 70.05 USD 68.79 USD -1.00 USD
EURO (Currency, Forex) 1.2428 USD 1.2221 USD +0.0035 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.)

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