Brent and crude oil moved higher; natural gas tumbled to 10-year low

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Source: Dukascopy Bank
Energy commodities apart from natural gas rallied after sufficient number of private lenders opted for debt swap deal. Moreover, strong equities and considerable weakness of the US Dollar created additional support for the commodity group. Expectations for further RRR reduction in China and strong German industry data both inspired energy prices to top higher. Lingering supply concerns after controversial announcements of world's leaders regarding Iranian nuclear programme added to the fuel products gains. Meanwhile, natural gas tumbled by 1.3% approaching 10-year low on the elevated inventory levels and soft weather forecasts in the US. Experts predict the downward move of the natural gas futures to persist.


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