Nordic forwards are firming on Tuesday morning on the back of drier weather forecasts, but the market could be "ahead of itself” if conditions normalise, traders said.
The Q4 10 contract had gained EUR 0.50 day on day at EUR 50.35/MWh, following an intra-day high of EUR 50.70/MWh, while YR 11 had risen by EUR 0.35 to EUR 45.00/MWh. "The latest EC forecasts are drier, which supports forward prices. Weather is the main driver, affecting contracts across the curve until YR 11,” a Finnish trader said.
Softer CO2 and crude oil had pulled
Dienstag, 7.09.2010, 11:09 Uhr
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