Energy commodities ended last week on a positive note amid the Euro Zone's optimism

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Source: Dukascopy Bank
Energy markets apart from natural gas moved higher on Friday on the increased optimism over the Euro Zone as its finance ministers agreed on boosting the bailout fund to a record high level of 700 billion Euros. From the supply side, the upswing is likely to be spurred as tensions between South Sudan and Sudan as well as between Iran and the West persist. However, speculation over the possible release of strategic oil reserves bounded the price moves to the narrow range.  From the demand side, the commodity group came under pressure after disappointing Chicago PMI data release. Natural gas continued its downward trend amid oversupply as mild weather in the US is expected to continue and the natural gas inventories are at record high.
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