Natual gas dived under 10-yer low on Thursday after IAE report

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Source: Dukascopy Bank
Energy commodities fell on Thursday amid stronger US Dollar and softer global equities. The major contributor to the decline of crude and Brent oil remained the speculation about the possible release of the oil resources in the US and the Euro Zone. However, positive economic data from the US limited the tumble, indicating prospects of stronger demand in view of recovering US economy. Meanwhile, investors are cautious ahead of the Euro Zone meeting in Copenhagen that begins March 30. Natural gas dived under its 10-year low after IAE reported new inventory buildup in the US. From the demand side, the upswing of natural gas is blocked because of mild spring weather.


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