Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rocket domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/befikry/energyscan.befikry.com/wp-includes/functions.php on line 6121
SPECIAL REPORT: EUAs broke all-time high : sustainable upward trend or temporary bullish run ? – EnergyScan

DOWNLOAD OUR SPECIAL REPORT

EUAs broke all-time high : sustainable upward trend or temporary bullish run ?

  • EUA prices have broken their all-time high of 65.77€/t on Nov.15th on a combination of rising gas prices, option trading and some positive sentiment from the COP26 amid a lack of sellers.
  • Despite the current strong bullish trend, the rally could be temporary as it not fundamentally supported :
    • Higher gas prices should not trigger additional gas-to-coal switching as all gas power plants are already far behind coal in the merit order for this winter,
    • The bullish news supporting the gas market was on the supply side not demand,
    • No impact on the EU ETS is expected to result from the COP26’s “Glasgow Climate Pact”.
  • A downward correction could hence be expected in the short term, although the nearing annual EUA auction break and the large call options’ open interest at 70 and 75€/t strike prices could quickly limit the downside.

Source : Data from Engie EGM and ICE

…

Download the full report
In this report, you’ll find key synthetic data and comments covering fundamentals, technical analysis and short term price outlook for the EUA market.
Share this news :

You might also read :

ES-oil
March 9, 2021

Stronger dollar limits the crude rally

ICE Brent crude prompt future dipped to 67.7 $/b after a reaching 71$ yesterday following the Houthis attack on Ras Tanura terminal. With no material…
LOG IN

Don’t have an account yet? 

Sign up here!
[booked-calendar]