Heating oil dives despite colder weather forecasts in the US

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures, excluding natural gas, fell on Thursday on easing supply concerns in the Middle East. However, the commodity group noted some support from a recent slump in US inventories and brighter demand prospects. Preliminary PMI readings indicated that manufacturing activity in the US, China and the Eurozone was better than market consensus in November.

Crude oil dropped despite strong demand-side support. Upbeat PMI numbers from the world's largest economies as well as optimism over the Greek bailout talks failed to lift the commodity.

Brent oil was bearish as fire was ceased in the Middle East. At the same time, the downswing was restricted in wake of softer greenback and positive PMI readings.

Natural gas was the only gainer, reaching one-year high after the EIA report showed the second withdrawal of the natural gas inventories for winter heating season.

Heating oil shed 0.45% despite forecasts for colder-than-normal weather in the US East Coast for the next week.


Back to articles

Actual Topics

Fri, 23 Nov 2012 09:31:02 GMT

Asian currencies appreciate on region's enhanced economic outlook

Asia's currencies are set to gain this week, driven by optimism the regional economy will recover, and Philippine peso. The currency appreciated 0.6% to 41.073 per dollar, while the South Korean Won strengthened 0.5% to 1,086.25 and Malaysia's Ringgit surged 0.5% to 3.0591 this week. Meanwhile, the Chinese currency Yuan added 0.13% to 6.2277. The economic outlook improved as Chinese

Fri, 23 Nov 2012 09:41:11 GMT

Zinc climbed despite a 137,000-tonne supply glut

Base metals apart from nickel climbed amid signs of recovery of the global manufacturing activity. Flash PMI data suggested that manufacturing sector in China, the US and the Eurozone performed better-than-expected in November. Demand for riskier assets was also spurred by Angela Merkel comments that EU finance ministers may agree on the Greek bailout terms on Monday.Aluminum gained, balancing between

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.