Crude oil went up after IEA report

Source: Dukascopy Bank
Energy markets were mostly higher on Wednesday amid broadly weaker US Dollar and smaller than expected increase in the US oil inventories. However, investors continued to eye events surrounding the Greek debt restructuring that will determine the future of the region. Brent and crude oils also tried to balance supply and demand concerns. Escalated tensions between Iran and Israel are likely to create supply problems while stagnation of the world's healthiest economies may reduce the demand for energy products. Meanwhile, natural gas tumbled as weather forecasts remain mild and US faced elevated inventory levels. The long-term outlook also is bearish as experts predict natural gas futures to fall even further and touch 2.00 US Dollars per million British thermal units.
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Thu, 08 Mar 2012 16:30:05 GMT

Agriculture tumbled on improved harvest conditions in South America

Rural commodities fell on Wednesday ahead of USDA report on crop estimates due on Friday. Wheat posted loses as UN lifted its forecast on the global wheat crops to the second highest over the last decades. The estimations of the world's wheat harvest vary from 678 million tons to 682 million tons. Corn futures declined as China's rejected rumours that

Thu, 08 Mar 2012 15:34:50 GMT

Industry metals were higher on the weaker US Dollar

Base metals except for aluminium moved higher on Wednesday amid depreciating US Dollar and stronger equities. However, fall in the German manufacturing orders capped the upswing. Moreover, investors are focused on the Greek debt swap talks as it will determine whether the country will stay in the common currency union. Aluminium fell by 1.19% but the long-term forecast stayed bullish

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