Crude oil jumps as flow through Seaway pipeline is set to rise

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures except for heating oil ended Tuesday's session in the positive area ahead of the EIA report due on Thursday. The commodity group found support on upbeat reading of German investor confidence indicator. However, increased caution ahead of FOMC minutes due on Wednesday and solid greenback cut gains of the commodity complex.

Crude and Brent oil traded higher after Enterprise Products Partners announced that supplies through Seaway pipeline will jump thus reducing a glut in the Midwest. Limiting the upswing, experts predict US crude oil inventories may have increased 1.9 million barrels last week, compared to a 0.6-million-barrel jump in the preceding week.

Natural gas shot up on colder weather forecasts in the US. MDA Federal said earlier that the temperatures in the most US territory may drop below normal level in the next five days. Meanwhile, analysts expect the upcoming EIA report to show a 119-billion-cubic-feet drop in the US natural gas storage.

Heating oil was the only loser despite colder weather forecasts and low inventory levels in the US.
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