The Thursday morning market was thin and uncertain, and lifted marginally from the Wednesday levels. The mere idea of rolling blackouts in the Nordics this spring is becoming absurd, and in a slightly larger perspective other markets like oil and stocks seem to have somewhat more spooky days ahead. The hydrological situation is not improving, however, but so far there is no incentive given to turn off production.
Analysts and players generally disagree whether the forward curve is over-, correctly, or underpriced. The spot is expected to continue to weaken ahead, and another 50 NOK down is one estimate before the producers close the tap, a Norwegian trader argued this morning. An Oslo-based player stated that the current future curve could continue to be lifted from today’s level next week, but at
Donnerstag, 20.03.2003, 12:08 Uhr
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