Dear Sir or Madam,
The persistent lack of water keeps Germany’s longest river, the Rhine, under control, even though there has been some precipitation in recent days. The previous low-rain period has meant that the Rhine for inland navigation can only be navigated with a significantly lower loading volume. This leads to more ship traffic, as not all goods can be transported alternatively by rail and road, but also to supply bottlenecks. Along the Rhine, there were already significant difficulties in the supply of fuel at the filling stations in recent weeks. In some places, diesel and petrol were temporarily unavailable at the pumps. Therefore, the Federal Ministry of Economics has released access to 70,000 tons of gasoline, 150,000 tons of diesel and 56,000 tons of kerosene from the German crude oil reserve. These quantities have already been almost completely taken over by the petroleum industry. A relaxation of the situation is not in sight despite current rainfall.
The advancement of global warming with longer periods of drought, associated with melting glaciers in the Alps, could in future cause significantly greater problems for European inland navigation and thus security of supply, which is why debates are already underway on shallower vessels.
From 3 to 14 December, the next UN Climate Change Conference (COP 24) will take place in Katowice, Poland. Prior to this, the IPCC was consulted, which came to the conclusion that only by rapid and drastic emission reductions in all areas of our society, the world community can still achieve the 1.5-degree target. At the current rate of heating, however, 1.5 degrees would be reached as early as the 2040s.
Prices for European greenhouse gas emission allowances continued to rise nearly 14% after last week’s correction last week, after a half-year low of EUR 15.10 a week earlier. However, the price increase failed on Friday at the 20-euro mark, which, however, could be broken this morning without any problems. The further weakening oil prices and the above-average warm November do not currently seem to exert any negative influence on the price trend.
|(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 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 or +44.20.79790283.
With kind regards,
Advantag Services GmbH