Crude oil edged up despite elevating inventories

Note: This section contains information in English only.
Source: Dukascopy Bank
Energy markets were mixed on Wednesday after the EIA report on the US stockpiles. Moreover, easing tensions between Iran and the West removed supply-risk premium for crude and Brent oil.

Crude oil was almost unchanged despite negative labour data releases from the Euro Zone and US. Elevating US inventories, which rose by 2.84 million barrels last week, failed to push crude oil down.

Brent oil was the top-loser after Iran announced it would seek the ways to end sanctions during negotiations with six major world powers on May 23.

Natural gas lost momentum as investors started to cash from the market as prices sharply increased.

Heating oil declined amid lack of clear fundamentals as US inventories remained steady last week while weather forecasts also are not expected to indicate lower temperatures.


Back to articles

Actual Topics

Thu, 03 May 2012 12:45:32 GMT

FTSE 100 index rebounds on Thursday

FTSE 100 index recovered from previous day's drop and edged higher on Thursday as banks pushed the British benchmark higher. Nevertheless upside was limited as miners posted substantial losses after metal prices declined. Moreover UK service PMI contracted more than predicted. Smith & Nephew gained 4.2% after reporting a 3% gain in 1st quarter profit. Antofagasta lost 4.8% after reporting

Thu, 03 May 2012 13:20:51 GMT

Zinc dropped after Euro Zone's PMI release

Industry metals slumped on Wednesday after the Euro Zone's PMI showed contraction from 47.7 to 45.9 in April. Moreover, rocketing unemployment in the region that rose to 15-year high of 10.9% dampened risk-sentiment and sent base metals down.Aluminum fell as China's demand is likely to slide this year. Meanwhile, the light metal may be bolstered by growing smelting prices.Copper lost

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.