Crude and Brent oil moved up on supply concerns

Source: Dukascopy Bank
Energy pack, excluding natural gas, continued to post strong gains amid escalated supply disruption concerns due to geopolitical tensions between Iran and Western economies. Weaker US Dollar and stronger equities also contributed to gains of the commodity group. Crude oil edged up even despite buildup in the US and dismal economic perspectives for the Euro Zone. Following crude oil jump, Brent oil hit more than three-year high of 123.62 US Dollars per barrel. However, 15-year low US oil consumption limited the upswing of the crude and Brent oil. Meanwhile, natural gas continues to fluctuate on the production cuts and mild weather forecasts in the US.


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Fri, 24 Feb 2012 17:39:56 GMT

Rural commodities were up on dry weather in South America

Rural commodities were mostly higher on Thursday amid broadly weaker US Dollar and adverse weather conditions in South America. Sugar, the top performer, approached almost three-month high on the lingering concerns over the Brazilian crop. Moreover, institutional investors and hedge funds showed increased interest in sugar buying. At the same time, wheat lost momentum created due to stronger China's demand

Fri, 24 Feb 2012 16:51:09 GMT

Industry metals fell on weak China demand and bleak EU outlook

Base metals tumbled on Thursday after the EC cut its growth forecast for the Euro Zone. Further, weak China's demand coupled with choppiness in the US Dollar both dampened the market sentiment. Aluminium futures dropped even despite increased cancelled warrants at LME. At the same time, supply concerns for copper from the renewed strike in Freeport's Grasberg mine and falling

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