Natural gas advanced on technical buying

Note: This section contains information in English only.
Source: Dukascopy Bank
Energy markets closed higher on Friday on the inspiring data from the US labour market and anxiety over tensions between Iran and Western economies. Moreover, positive outcome of the Greek debt swap talks created fresh stimulus for the base metals pack. However, from the demand side, slowdown of Chin's economy continued to weight down on the group. Weaker world's equities also limited the gains. Meanwhile, speculators and money managers cut their net long positions in crude oil last week for the first time in last five weeks. Natural gas was the top-performer as US inventories witnessed a fall. Further, technical buying appeared as investors tended to close their short positions despite expectations of further downside due to warm weather forecasts.


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