Crude and Brent oil soared on Iranian tensions on Friday

Source: Dukascopy Bank
Energy commodities, excluding natural gas, ended the week with strong gains. Escalated geopolitical tensions between Iran and Western economies fueled by the IAEA report that indicated nuclear enrichment production in Iran created strong momentum for Brent and crude oil futures gains. Moreover, increased probability of military action from Israel contributed to the concerns over supply disruption. Improved economic situation on the other side of the Atlantics, the US, also lifted the energy prices. However, the oil price's upswing may be capped as major oil producers still have spare capacity hence can easily offset any oil shortages. Natural gas tumbled to six-day low amid mild weather forecasts and elevated inventories in the US.


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Mon, 27 Feb 2012 14:50:05 GMT

Agricultural futures advanced on weak US Dollar on Friday

Rural commodities, except for wheat, rallied on Friday amid broadly weaker US Dollar. Sugar, the top gainer, continued to draw strength on the uncertainties over the Brazilian crops. Wheat, the only loser, faced pressure after the US government increased its forecast on the grain output. However, corn was more resilient to the US grain report and managed to gain 0.20%.

Mon, 27 Feb 2012 15:24:29 GMT

Dow Jones Industrial Average loses ground on Monday

Dow Jones Industrial Average index closed almost unchanged on Friday with sector returns making relatively tiny movements. Blue chip index slipped 0.01% or 1.74 points to 12,982.95. The main gainer was American Express which added 1.3% though the company reported FDIC is going to take measures to fight late fees on some charge cards. Hewlett Packard prolonged its downward momentum

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