The market continues to drive in two directions with contracts close to delivery remaining strong while contracts with delivery further forward in time are weakening. As a result, producers have little incentive to scale down on production and the resource situation weakens.
During the first one and a half weeks of September, W2-02 has continued up, W1-03 has stayed strong and the other forwards have fallen. Even Year03 is weakening, currently trading around NOK 169, down NOK 6 from its August peak.- At the moment, prices in front are priced very high giving few incentives for producers to scale down on production. Gradually this will drain the resources and
Mittwoch, 11.09.2002, 12:20 Uhr
Olav Vilnes
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