Dear Sir or Madam,
Only minus signs mark the price developments of the past week, as can be seen in the table below. Particularly outstanding here is the rapid fall in the price of oil, which fell again this morning by more than one US dollar.
Responsible for this is the rapid spread of the corona virus in China and worldwide. Both the number of deaths and the number of people infected have risen sharply again within hours and it is to be feared that this is only the notorious tip of the iceberg. Outside of China, around 50 cases of the disease have been detected so far, with the majority of those infected having previously been in the metropolis of Wuhan, where the epidemic apparently started.
Of particular tragedy is the fact that the outbreak of the dangerous viral disease coincided with the Chinese New Year, when Chinese people traditionally return to their families from all over the country and also from the remotest corners of the earth to celebrate New Year with them. This means a gigantic wave of travel every year, which further supports the spread of the virus.
The Chinese government has reacted to this and has imposed considerable travel restrictions on Wuhan and several other major cities. According to media reports, more than 40 million people are affected, which corresponds to half the population of Germany. As has been reported, in the city of Wuhan, which has a population of eleven million and is the transport and production centre of central China, all public transport in and out of the city, i.e. by train, plane, ferry and bus, has been shut down. The extent to which the virus has already spread or will continue to spread, however, cannot be estimated at present, so economists predict a considerable burden for the Chinese economy and beyond.
In the wake of the collapse in crude oil prices, emission certificates have also been weakened and are currently trading above the 24-euro mark.
|(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.)
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With kind regards,
Advantag Services GmbH