Natural gas dived below 2.00 US Dollars per Btu

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Source: Dukascopy Bank
Energy commodities attempted to equilibrate waning supply risk premium and improving demand prospects.

Crude oil was the top gainer as reversal of the Seaway pipeline in the US, which is aimed at easing supply glut in the country, is planned to be completed ahead schedule.

Brent oil fluctuated between gains and losses as talks between Iran and six major economies will be resumed in May. Moreover, narrowing spread between crude and Brent oil caused by the Seaway pipeline reversal blocked upswing of the commodity.

Heating oil mainly tracked movements of Brent oil, being additionally pressured by the warm weather in the US.

Natural gas hit new 10-year low as US stockpiles have continued to face elevated inventories as well as demand has continued to weaken. 


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