Natural gas rallies as US supplies fall more than expected

Source: Dukascopy Bank SA
Energy futures except for natural gas finished in the negative area on Thursday as weak US jobs market data raised concerns over energy demand prospects. Moreover, a recent bearish EIA report continued to push oil prices lower.

Crude and Brent oil tumbled as market players were cautious that Friday's jobs report may disappoint. Oil futures also were depressed by a recent inventory report released on Wednesday. The EIA data indicated US stockpiles rose more-than-expected last week. However, broadly weaker US Dollar and dovish Mario Draghi comments limited losses of crude and Brent oil futures.

Natural gas was the only gainer after the official inventory report showed a larger-than-expected withdrawal last week. Natural gas storage dropped 94 billion cubic feet last week compared to expectations of a 89-billion-cubic-feet decline. At the same time, forecasts calling for warmer weather in the US restricted an upward trend of the commodity.

Heating oil tracked weakness in the crude and Brent oil futures. Moreover, expectations of warmer weather in the most US territory in the next ten days put pressure on the commodity.
Back to articles

Actual Topics

Fri, 05 Apr 2013 08:25:10 GMT

Sugar rose as more cane may be used for ethanol production

Farm commodities were mixed on Thursday amid broadly weaker US Dollar and unfavorable weather conditions in Argentina. Rising ethanol prices as well as uncertainty over Central American coffee crop supported softs. At the same time, improved weather in the US as well as weak demand for US exports sent grains lower. Wheat dropped after the USDA data showed U.S. wheat-export

Fri, 05 Apr 2013 07:28:08 GMT

Nickel flat amid global surplus and elevated stocks

Base metals apart from nickel advanced on Thursday despite worries over rising global inventories and weak China's demand. However, industrial metals found support on Mario Draghi comments that the ECB will continue its easing measures as long as needed. Aluminum climbed as cancelled warrants at the LME continued to rise, indicating strong spot demand. Adding to gains, stockpiles at the LME

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.