Crude oil surged; natural gas tumbled on Tuesday

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Source: Dukascopy Bank
Energy markets faced mixed performance on Tuesday with Dow-Jones Energy Index falling by 1.06% over the day. Natural gas and heating oil were among the top losers as natural gas continued to face strong downward pressure from mild weather forecasts and constantly growing US inventories. At the same time, crude oil overcame psychologically significant level of $100 per barrel, ending the day at $100.71 per barrel. Upswing for crude oil was based on the strong data form China, the US and Germany and the steps towards Iranian oil ban in Europe. However, crude oil may lose its momentum as Saudi Arabia seems to agree to increase oil exports to offset Iranian shortfall even despite Iranian threats.


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Wed, 18 Jan 2012 16:53:22 GMT

Sugar price stayed resilient to possible oversupply

Agricultural commodities, except for coffee, edged up on Tuesday. Unfavorable weather forecasts in South America lifted price for corn and wheat while sugar futures managed to climb 0.16%. However,  reports on large sugar crops in the EU and Russia coupled with further prospects for increase in Indian exports essentially limited the gains. Sugar may continue to be supported by weaker

Wed, 18 Jan 2012 16:52:56 GMT

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