Emissions Trading / Carbon Market News (26/07/20021)

Dear Sir or Madam,

North Sea Brent oil hit a three-year high at $ 77.80 in early July and closed just below the $ 75 mark last week.

The recovering global economy and increasing demand are causing prices to rise, and important producers have only increased their production volumes insignificantly.

Now OPEC + could decide this week about a corresponding increase in production in August, as US crude oil inventories are also falling significantly.

Bank of America has now issued a price target of 100 dollars / barrel for the coming year, which can be attributed to the continued rise in demand.

The prices for EU CO2 emission rights have not benefited from the higher oil price and fell again by around two euros in the last week of trading compared to the previous week. The important mark of 50 euros still seems to be a significant support line here, as larger buy orders are repeatedly executed here.

But the halved auction volume in August could also influence pricing. This week, 15,091,500 EUAs will be auctioned for the last time on EEX, in August there will be only 7,546,500 EUAs per week.

  (Average Quotes Exchange / OTC)   
EUA (Spot-Market)52.87 EUR50.88 EUR-1.99 EUR
EUA (December-2021-Future)52.96 EUR50.89 EUR-2.07 EUR
CER (Voluntary Spot-Market ø)2.66 USD2.66 USD+0.00 USD
VER (Gold Standard Spotmarkt ø)14.99 USD14.99 USD+0.00 USD
ICE Brent Crude Oil (Benchmark Future)73.20 USD74.11 USD+0.91 USD
EURO (Currency, Forex)1.1805 USD1.1770 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. CERs and VERs are average prices in the voluntary carbon offsetting market (eco securities). 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