Near curve contracts on the NBP shed value for the whole of last week, as the bearish trends continued to gather momentum. However, it has been suggested that losses have been overdone as there is still supposedly still a good degree of risk premium left in the February-18 contract. Therefore, traders have questioned whether the current downtrend is sustainable. The bearishness on the gas market caused February-18 prices on the power market to hit a record low since assessments of the product began at the start of October. The contract has lost around 6.5% since its close on 22nd December. Losses on the near curve filtered through to the seasons further out although sentiment was less bearish.
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