Natural gas dropped on profit-taking

Source: Dukascopy Bank SA

Energy commodities, excluding natural gas, posted gains on Wednesday amid US monetary stimulus hopes and brighter demand prospects from China. Easing concerns over the Eurozone's financial instability also lifted the commodity group.

Crude oil managed to end the day with slight increase despite unexpected rise in US crude oil inventories last week.

Brent oil added almost 1% on Fed easing speculation and softer greenback. Violence in Syria and continuous tensions between Iran and world's top economies provided support for the commodity.

Natural gas was the only loser, retreating from seven-month high as traders started to take profits from recent hot weather-led rally.

Heating oil went higher as US distillate fuel inventories were still below an average range in this year period.

 

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