Crude oil moved higher on weaker US Dollar

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Source: Dukascopy Bank SA
Energy commodities apart from natural gas posted slight gains on Friday as decelerating US GDP growth spurred speculation that the Fed may provide additional monetary stimulus. Optimism over  Eurozone also boosted the commodity group.

Crude oil soared on global easing hopes and softer greenback. Meanwhile, positive US consumer confidence data bolstered oil price as well.

Brent oil caught momentum on monetary stimulus expectations. Persistent violence in Syria and lack of resolution of Iranian nuclear program issue also supported Brent oil.

Natural gas ended the week with a 2.43% loss as investors cashed out from the market after Thursday's rally on US supply data.

Heating oil advanced amid softer greenback and easing speculation.
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Mon, 30 Jul 2012 12:35:48 GMT

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