Energy fell after EIA report; strong PMI limited losses

Source: Dukascopy Bank
Energy commodities, excluding Brent oil, tumbled on Wednesday after the EIA report indicated higher than expected oil stockpiles in the US. However, strong PMI data releases from the US, the EU and China limited the losses. Crude oil may gain support on the fresh developments over Iranian nuclear programme as the US officials consider imposing striker sanctions against Iran's oil exports. Natural gas was pressured by the mild weather forecasts; the commodity may also seek backup on the expected fall in the natural gas inventories.  


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