With renewed rainy forecasts the autumn contract returned to the fifties this morning, and players once more agree that the trend is relatively bearish. With a confirmation of the weather forecasts tomorrow, a revisit at NOK 155 is within reach again, a Norwegian producer argued. A Swedish trader held that we’ll see a NOK 157/160 range for a few days.
In a thin Thursday market, players seemed over and done with the bullishness for now, and Winter2 fell back to NOK 158.50 at the lowest. Back to where we were A Norwegian producer pointed out that the market is now returning to the situation in which it was last week, with low pressures coming in from the west, taking the market down:
Donnerstag, 25.07.2002, 12:33 Uhr
Sara Fagernes
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