Energy commodities' correlation remed stable over last week

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Source: Dukascopy Bank
© Dukascopy Bank

Crude oil's link with Brent oil and natural gas remained stable at 0.95 and 0.89, respectively. At the same time, correlation with natural strengthened over the weak attaining 0.63 on Friday as all energy commodities negatively responded to credit cuts of nine members of the Euro Zone and increasing US stock levels. Crude oil connection with Standard and Poor's SP500 (SPX) has remained stable since the beginning of the year. The interdependence between crude oil and the pair EUR/USD tumbled to 0.15.

 

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