The German power front year continued its bearish trend in October. Demand is still low and the lockdown light discussed in October pushed prices further down. Other commodities such as oil, coal and CO2 certificates also continued to fall in October.
The front year in gas, on the other hand, remained largely stable, and a strong increase was even recorded on the spot market. Participants in the enmacc market sentiment assumed that gas prices would also fall more sharply, which led to a relatively high proportion of tips that were too bearish. In 66% of all tips, however, the participants again demonstrated a very good feeling for the market and correctly predicted the trend.