Energy commodities tumbled on Monday amid eased supply concerns

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Source: Dukascopy Bank
Energy commodities except for natural gas were lower on choppy trade on Monday along with weaker US Dollar and softer global equities. Easing supply concerns after Iran entered negotiations with Western economies regarding its nuclear programme weighted down on the commodity group. Moreover, demand from the US and China may weaken after disappointing US labour market performance and growing CPI in China. However, expectation for more loosening monetary policies in the US after weak payroll data may support base metals. Natural gas was the only gainer as demand is likely to strengthen after meteorologists reported on colder weather forecasts in the US.
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Tue, 10 Apr 2012 19:20:35 GMT

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