Natural gas rallies after EIA inventory report

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures were mixed on Friday after the EIA weekly stockpiles report indicated larger-than-expected withdrawal last week. Energy prices also received a boost from hopes that dismal US job market data will result in continuation of the Fed's easing. However, mild weather forecasts as well as strong US Dollar continued to create heavy pressure on the commodity group.

Crude oil inched up after the EIA report showed that US stocks dropped by 11.1 million barrels last week versus a forecast of a 0.7-million-barrel decline.

Brent oil shed 0.74% despite firmness in crude oil prices. Brent oil slumped as concerns over the US debt ceiling talks outweighed hopes that the Fed will stick to its stimulus measures in the nearest term.

Natural gas was the top-performer after the EIA report indicated that natural gas stockpiles tumbled by 135 billion cubic feet last week compared with estimates of a 129-billion-cubic-feet drop.

Heating oil was bearish amid mild weather forecasts in the most US territory. Meanwhile, US distillate fuel inventories added 4.6 million barrels last week but stayed below the average range for this period of the year.


Back to articles

Actual Topics

Mon, 07 Jan 2013 10:14:08 GMT

Sugar declines on global oversupply

Farm commodities apart from coffee dipped on Friday amid solid greenback.  Moreover, upcoming debates on the US debt ceiling pushed rural commodities lower. Meanwhile, traders remained cautious ahead of closely-watched monthly USDA report on world crop supply and demand estimates due next Friday.Wheat closed at a six-month low amid weak demand for US supplies. As for December 27, total accumulated

Mon, 07 Jan 2013 09:30:05 GMT

Nickel falls on global supply glut

Industrial metals extended previous losses as euphoria over the US fiscal deal waned. Investors turned to safe-haven assets after the Fed hinted it may end its bond-buying program. Limiting the downswing, weak employment numbers in the US are likely to force the Fed to continue its stimulus measures. Aluminum plunged amid heavy pressure from firm greenback and bloated stockpiles at

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.