- Who We Are
- What We Do
- Market Info / Blog
- News / Educational Events
Stamford, CT, January 16, 2013 — Yesterday, Tradition Energy, one of the world’s largest energy management and procurement advisors, released its annual Energy Market Forecast for commodity prices during a live web conference with its clients. As it does on a bi-annual basis, CNBC gave a preview of the report during its live broadcast from the floor of the New York Mercantile Exchange, last week.
The forecast identifies the key factors that will most likely drive energy price volatility during the year. The report also provides both historical and forward-looking analyses and price estimates for electricity, natural gas, crude oil, heating oil and gasoline.
Tradition expects that speculative bullishness will likely push petroleum commodities higher in early 2013. However, there is a fair amount of skepticism in the report regarding the further upside potential for prices throughout the year.
“Oil and refined products prices, in particular, should largely stay in check due to a slowdown in global economic growth, robust inventories, growing production and abundant spare capacity,” said Addison Armstrong, Senior Director and head of Market Research at Tradition Energy.
Similarly, natural gas and electricity prices in the U.S. face downward pressure due to abundant supplies, high levels of production and slack industrial demand.
“In 2012, even one of the hottest summers on record and a cold start to the winter could not lift prices in a sustained fashion,” Armstrong added. “Our view is this situation will continue in 2013.”
For more Information on the price forecast, contact:
Scott Merrell, Sr. Director, Sales & Marketing, 713-609-9922, Scott.Merrell@TraditionEnergy.com
Tradition Energy is one of the world’s largest energy management and procurement advisors to commercial, industrial and governmental organizations with over 300 energy specialists in 11 offices covering both the wholesale and retail energy markets since 1986. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,500 people in 27 countries around the world and is publically listed on the Swiss stock exchange (CFT). www.tradition.com