Natural gas dropped on profit-taking

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Energy commodities moved lower on Tuesday ahead of key central banks' meetings. Hopes that the ECB and Fed will loosen their monetary policies failed to support the commodity group.

Crude oil was the worst-performer as support from easing speculation weakened after positive signs from US economy.

Brent oil went down on growing caution over hopes for additional monetary stimulus from the Fed and ECB. Meanwhile, softer US Dollar restricted the downside of the commodity.

Natural gas retreated from seven-month high amid profit-taking after previous day's rally. However, forecasts for abnormally hot weather in the US are likely to support natural gas futures in the next sessions.

Heating oil lost 1.16% ahead of EIA report on the US distillate fuel inventories due on Wednesday.

 

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