“Yesterday prices rose on wet forecasts, and today it’s falling on drier forecasts. Contrary to what you would expect,” a Norwegian producer says. He thinks that the reduction today is sensible, but still perceives that the price level is high. “The high prices are based on expectations of a dry summer,” he says.
The trader admits that he thought prices would be lower yesterday when he came to work after the weekend and the Norwegian national holiday. “Prices yesterday opened on Friday’s closing level, even though a lot of precipitation has been delivered in between,” he explains. Another Norwegian player also expressed surprise over the high prices yesterday. “The balanc
Mittwoch, 19.05.2004, 12:02 Uhr
Redaktion
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