The Tuesday market continued its correction this morning, and another couple of NOKs were seen on the downside due to an overbought market and outlooks of more unstable weather. And while inflow has been significant in certain areas in Norway lately, the fall the last two days is an overreaction, according to an Oslo-based trader. An international trader agreed, and both said that, for now, the current level could be close the bottom.
For now The international trader pointed out that a week ago the autumn contract was NOK 176, while in the meantime the hydrological balance has not improved, and today the same contract is trading 10 NOK below on uncertain wet outlooks. Already now precipitation has been included in the price, and a recoil should be expected tomorrow or Thursday, he held.The Oslo-based
Dienstag, 11.06.2002, 11:56 Uhr
Sara Fagernes
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