Natural gas soared on the US production cuts

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Source: Dukascopy Bank
Energy markets faced mixed performance on Friday, with rising crude oil and natural gas and falling Brent and heating oil. Crude oil was mainly lifted by strong economic data from the US and renewed geopolitical tensions over the Iranian nuclear program and violence in Nigeria and Iraq.  However, the upswing may be capped by the instability of the Euro Zone's economy. At the same time, natural gas futures surged to almost three week high as major US gas producers started mass output cuts in view of weak prices. Moreover, US data showed essential fall in natural gas supplies last week.


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