Energy commodities surged on Monday on demand hopes

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Source: Dukascopy Bank
Energy commodities soared on Monday on the improved demand perspectives from the US and China. Moreover, BP has reported that it has closed its oil output terminal at the Valhall platform for compressor maintenance that is likely to create short time supply disruptions in the North Sea. However, poor Euro Zone data coupled with eased supply concerns from Iran limited the gains. Euro Zone manufacturing activity slumped while jobless rate hit a record high in March. Iran and six world nations plan to meet in Turkey in the middle of April to discuss issues related to the Iranian nuclear program. Meanwhile, natural gas bounced from a new 10-yer low despite record high increase in US inventories and persistent mild weather in the country.


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Tue, 03 Apr 2012 15:36:16 GMT

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