Natural gas advanced despite US inventory buildup

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures were mixed on Wednesday after a release of the US supply data. Meanwhile, upbeat US data improved appetite for riskier assets, thus supporting the commodity group. Moreover, growing tensions in the Middle East coupled with soft greenback also added to gains of energy futures.

Crude oil was flat after the EIA reported that US crude oil supplies climbed by 2.9 million barrels last week compared to a forecast of a 1.7-million-barrel increase.

Brent oil was the top-loser as elevated US inventories and global demand concerns continued to weight on the commodity. Restricting the downswing, US building permits and housing starts rose more than expected last month.

Natural gas bounced off one-week low ahead of the US inventory report due on Thursday. Last week natural gas supplies stood 8% above the average range for this year period.

Heating oil declined despite further decrease in the US stockpiles. US distillate fuel supplies dropped by 2.2 million barrels last week and are standing below the lower limit of the average range.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.