Energy commodities moved down on Wednesday amid lingering demand concerns

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Source: Dukascopy Bank
Energy commodities apart from heating oil declined on Wednesday on easing supply and lingering demand concerns. Broadly stronger US Dollar and weaker global equities also added to the pessimistic mood of the commodity group. Lower than expected increase in the US durable goods orders and cooling China's economy escalated worries over the Brent and crude oil demand. At the same time largest nations are considering the release of their  strategic oil reserves to curb inflation while Iran plans to renew dialogue with Western economies regarding its nuclear programme. Meanwhile, natural gas futures retested the 10-year low as investors expect the IEA to report elevated inventory level in the US.


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Thu, 29 Mar 2012 19:06:33 GMT

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