Crude oil moved lower after weak China's PMI reading

Source: Dukascopy Bank SA
Energy futures apart from natural gas were steady on Monday on weak demand for risky assets amid elections in Italy. Solid greenback and caution ahead of the Fed Chairman Ben Bernanke testimony due on Tuesday also put pressure on the commodity complex.

Crude oil retreated amid appreciation in the US Dollar. Pushing the commodity lower, China's manufacturing activity expanded at the slowest pace in four months in February. Meanwhile, market players were awaiting economic data releases from the US scheduled this week.

Brent oil advanced despite speculation that a diplomatic resolution to the conflict over Iranian nuclear program is possible. Adding pressure, analysts predict a 2.5-million-barrel increase in the US inventories last week.

Natural gas skyrocketed to a five-week high as weather forecasts continued to call for colder-than-normal temperatures in the most US territory over the next 11-to-15 days. A recent decline in the US stockpiles also lent support to the commodity.

Heating oil edged lower despite colder weather forecasts and declining US inventories.
Back to articles

Actual Topics

Tue, 26 Feb 2013 10:36:04 GMT

Wheat tumbles as snow brings relief to US crops

Farm commodities except for corn finished in the red territory on Monday amid improving weather conditions in the US and South America. Sending rural commodities lower, speculators continued to reduce net long positions after the USDA at its Outlook conference expressed optimism about this year's harvest. Wheat plunged to an eight-month low as the second snowfall brought a relief to US

Tue, 26 Feb 2013 11:09:05 GMT

U.S. stocks decline on concerns over the Europe's debt crisis

U.S. equities tumbled on Monday, heading the indexes towards their biggest decline in three months after partial parliamentary election results in Italy hovered concerns about the European debt crisis. The S&P 500 Index declined 1.8% to 1,487.85. All sectors in the gauge inched lower. F5 Networks paired biggest losses in the index, as it fell 3.1% to $89.55 adding

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.