Prices continued further down Tuesday morning on a weak spot, warm temperatures and more rain. But eventually most contracts started to head north again, and the blocks and Summer 03 are now trading up from yesterday. A Norwegian producer found the turn natural saying yesterday’s fall was too heavy.
Today’s switch of direction may be a sign that the strong downside yesterday went a bit too far, and that players are now adjusting their positions. “The market fell heavily yesterday, and I was a bit surprised that it opened further down this morning. It is very nervous, and forecasts are wet. But the resource situation remains extremely weak, and very high amounts of precipitation
Dienstag, 14.01.2003, 11:58 Uhr
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