Natural gas tanks on warm weather forecasts

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures except for Brent oil retreated on Monday despite broadly weaker US Dollar and hopes that the Fed will keep its policy easy. The commodity group faced a heavy downward pressure from negative news from the Eurozone. Italy's PM Mario Monti unexpectedly announced his resignation, raising uncertainty over the country's leadership.

Crude oil fell amid fears that global demand may weaken amid Eurozone's debt woes. However, recent declines in the US crude oil stockpiles as well as hopes that the Fed will provide further easing limited losses of the commodity.

Brent oil was the only gainer on signs that China's economy is on the way to recovery and is likely to demand more energy to support growth.

Natural gas dipped further after the Commodity Weather Group reported much warmer weather in the next six-to 10 days in the most US territory.

Heating oil eased 0.66% as updated weather forecasts in the US suggested warm weather in the coming days, weighting on heating fuel demand prospects.


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