News
Energy & Commodities
Oil Price Commentary: Insights into Recent Trends and Drivers
By Francesca Marrone
24 Apr 2024
Tradition Excels in Risk.net’s 2024 Energy Commodity Rankings, with 8 wins including “Best Overall Commodities Broker”
By TraditionData
Business update
TraditionData Strengthens Netherlands Footprint Through Partnership with NIBC
22 Apr 2024
Interest Rate Derivatives
Interest Rate Derivatives & FX Updates: April 2024
By Jessica Kalaria
18 Apr 2024
Product notification
25 new USD SOFR Butterfly Spreads added to package
By Ian Sams
13 Feb 2023
According to BNEF figures, a fifth of global emissions are now regulated by a compliance based-carbon market. Lawmakers are constantly introducing reforms to include more industries and companies into regional carbon and renewable certificates schemes, increasing the demand for allowances and as a consequence driving prices up. US Carbon markets, and in particular California (illustrated in the chart below), have benefited from a steady market rally in 2023. This rally was at a faster pace than European markets where Emission Allowances prices have instead declined, closing just above 64 Eur/MT on Thursday the 31st of January, after briefly peaking above 100 Eur/MT last February.
California market gains have been driven by aggressive decarbonisation targets and annually increasing mandated auction floor prices, with the ambitious plan to reduce greenhouse gas emission by 85% below 1990 levels before 2045. The United States have been showing sustained commitment to reduce greenhouse gas emission and increase renewable energy output, thanks to a number of factors including robust regulatory framework, governments incentives and growing environmental awareness.
Renewable Portfolio Standards (RPS) have also been implemented in a growing number of US states alongside Carbon Offset regulations. Energy providers that don’t meet the minimum quota of renewable energy in their electricity supply mix must purchase RECs (certificates issued when 1 MWh of electricity is generated from a renewable energy resource) in OTC Markets.
Faced with regulatory uncertainty, market volatility and growing concerns over long-term, sustainable supply, energy players need reliable market data to evaluate their portfolio. At TraditionData we offer US renewable players unrivalled RECs and Emissions pricing data, leveraging Tradition’s leading position in the broking space.
A real-time source for oil swaps pricing data, drawn directly from Tradition’s twenty two award-winning brokerage desks and analytics teams across the globe.
Market Data
March 2024: Tradition Sets the Standard, Outperforming Competitors in Q1
8 Apr 2024
FX & Money Markets
Navigating the FX Landscape: Understanding Trends & Data Available
By Sal Provenzano
3 Apr 2024