Natural gas advanced on technical buying

Source: Dukascopy Bank
Energy markets closed higher on Friday on the inspiring data from the US labour market and anxiety over tensions between Iran and Western economies. Moreover, positive outcome of the Greek debt swap talks created fresh stimulus for the base metals pack. However, from the demand side, slowdown of Chin's economy continued to weight down on the group. Weaker world's equities also limited the gains. Meanwhile, speculators and money managers cut their net long positions in crude oil last week for the first time in last five weeks. Natural gas was the top-performer as US inventories witnessed a fall. Further, technical buying appeared as investors tended to close their short positions despite expectations of further downside due to warm weather forecasts.


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Mon, 12 Mar 2012 15:33:21 GMT

Agricultural commodities mixed after USDA report

Rural commodities were mixed on Friday with advancing grain commodities and falling sugar and coffee futures. The commodity pack was pressured by the broadly stronger US Dollar and improved weather conditions in the US. Grains gained fresh stimulus after USDA lowered estimation of the global grain stockpiles. Wheat was also bolstered by bargain buying as commodity moved to the oversold

Mon, 12 Mar 2012 14:54:15 GMT

Base metals ended last week on a positive note

Industry metals ended last week on a positive note as progress over the Greece receiving the second bailout package and improved situation in the US labour market both contributed to the rally. However, weaker global stocks and dismal China's data capped the upswing. Copper and nickel faced falling inventories and better spot demand that pushed the price for these metals

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