Natural gas fell as residential demand weakened

Source: Dukascopy Bank SA
Energy markets apart from natural gas moved higher on Friday as lack of resolution of Middle East tensions and indications of the US economic recovery created favorable conditions for the price increase.

Crude oil futures were bolstered by failure to reach a compromise on the Iranian nuclear program while positive data on US consumer confidence boosted demand prospects. 

Brent oil was the top-gainer amid persistent tensions in the Middle East and inspiring economic data from the US. However, dismal manufacturing activity in Asia limited the upswing.

Natural gas dropped on indications of weakening residential consumption that fell by 9% in April. Elevating inventory levels in the US also pressured natural gas price.

Heating oil followed crude and Brent oil and added 0.25% over the day.


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