Energy commodities except for crude oil climbed on Tuesday amid positive economic releases from the US and encouraging POBC comments. On Tuesday, the POBC injected about USD46 billion into economy through repos and announced that further fine-tuning is possible. However, comments of Fed official that the Fed policies may prove to be inefficient in boosting US economy restricted gains of the commodity group.
Crude oil was the only loser on alarming Fed official's comments and stronger US Dollar. However, the downswing was limited by brighter demand prospects from China.
Brent oil remained well-supported by escalated tensions between Iran and the US. Positive US data also lifted the commodity price.
Natural gas was the top-performer on signs that stronger demand from electricity generators will help to lower supply glut.
Heating oil gained 0.32% ahead of the US stockpile report due on Wednesday.