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Tradition Energy Announces Its 2011 Energy Market Forecast to Clients

STAMFORD, Conn., Jan. 20, 2011 /PRNewswire/ -- Tradition Energy, one of the world's largest energy procurement advisors and a subsidiary of Compagnie Financiere Tradition, announced its annual Energy Market Forecast for commodity prices during a global client web conference, which was held yesterday afternoon. Earlier this month, Tradition Energy highlighted the key fundamentals shaping the 2011 forecast during a live CNBC broadcast from Tradition's Stamford, Conn., offices.

The 20-page report identifies the key factors that could drive this year's energy price volatility. Additionally, it provides both historical and forward-looking analyses for crude oil, natural gas, electricity, gasoline and heating oil, and includes a price forecast for each.

Tradition expects that speculative bullishness will likely push petroleum commodities higher in early 2011. However, there is a fair amount of skepticism in the report regarding the potential upside 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, Sr. Director and head of Market Research at Tradition.

Similarly, natural gas and electricity prices in the U.S. face particular downward pressure due to abundant supplies and slack industrial demand.

"In 2010, even one of the hottest summers in a generation 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 2011."

Tradition's 2011 Energy Market Price Forecast:

         Commodity                  Price Forecast            Forecast Range

        NYMEX Crude                           $88.25              $77 - $110
       NYMEX Gasoline                          $2.20           $1.90 - $2.75
     NYMEX Heating Oil                         $2.35           $1.95 - $2.75
     NYMEX Natural Gas                         $4.20           $2.50 - $5.20
         NYMEX PJM
         Electricity                          $54.50         $34.00 - $74.00

About Tradition Energy

Tradition Energy is one of the world's largest energy procurement advisors to commercial, industrial and governmental organizations, including Fortune 500 global companies. Tradition Energy is the retail sector of Tradition's award-winning wholesale energy brokerage division, which has eight offices worldwide, with over 300 energy specialists and has been in the energy business since 1986. Represented in 27 countries, Tradition employs over 2,500 people globally. Tradition is the interdealer broking arm of Compagnie Financiere Tradition (CFT) and is listed on the Swiss stock exchange. For more information, please visit www.traditionenergy.com or www.tradition.com.

SOURCE Tradition Energy