The morning market was bearish as the weather forecasts concur regarding the breakdown of the high pressure. The weeks have been overpriced up until now, and players said this morning that today’s weather outlooks may trigger the turning point, at least in the front.
Fundamentally there are no big changes in today’s weather outlooks, but the EC has joined the AVN regarding the frontal system moving in. All the nearest contracts were taken down significantly this morning.
Less divergence The outlooks do not justify any significant movements today, but could mean that the market is coming to a turning point, a Norwegian trader said. He argued that the steady lift we have seen in the forward market, and in particular the strength shown in the autumn contract this week, is likely to continue, however:- As the weather models are no longer
Freitag, 21.02.2003, 12:08 Uhr
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