Energy commodities moved up on falling US fuel inventories

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Source: Dukascopy Bank
Energy commodities excluding natural gas rose after several days of losses on Wednesday, being bolstered by the Fed report that indicated stable growth of the US economy.  Moreover, sharp fall of the US fuel inventories offset a buildup of the crude oil stocks thus pushing energy prices up. However, in case negotiations between Iran and Western economies that started on Sunday reduce geopolitical risk premium for crude and Brent oil, energy commodities are likely to follow bearish trend. At the same time natural gas tested new 10-year low as warm weather  in the US as well as weak demand weighted down on the commodity.


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Thu, 12 Apr 2012 20:47:55 GMT

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