With adjusted weather forecasts the bellwether SO2 took the market down a few NOKs this morning, rolling down to NOK 136 at the lowest. Today’s correction from Monday’s bullmaster leap is a highly natural reaction, traders argued this morning, and held that the weather trend eventually will change towards a wetter scenario now.
The summer traded mainly in the NOK 138s this Tuesday morning. As the weather forecasts came in wetter today than what has been the case lately, the market took a steep dive before returning to a level of stabilization one to two NOKs below the Tuesday close. Correction and reactionAccording to a Norwegian trader, the correction today is of the ordinary kind:
Dienstag, 16.04.2002, 12:09 Uhr
Sara Fagernes
© 2024 Energie & Management GmbH