Energy flat; natural gas lower despite drop in inventories

Source: Dukascopy Bank
Energy commodities were almost flat on Thursday. Crude oil inched up 0.3% on the broadly softer US Dollar. However, slowdown in the US demand restrained price jump, keeping it below USD 100 per barrel. Meanwhile, Brent oil awaits fresh stimulus from developments across Iranian oil embargo. The oil shortage is likely to be offset by increased exports from Saudi Arabia that already has called for an emergency OPEC meeting. Natural gas was the top loser after rallying for two days on the production cuts. Even much larger than expected fall in the US natural gas stockpiles did not managed to prevent downward move. 


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