Natural gas plunged after US inventory report

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures were bearish on Friday as refineries at the US East Coast resumed operations after being shut down in wake of Hurricane Sandy. Moreover, looming US elections and stronger greenback created additional pressure on the commodity group.

Crude oil plunged on mixed signals from the supply side. US refineries are restarting operations after Hurricane Sandy while US crude oil inventories unexpectedly sank last week.

Brent oil sagged despite better-than-expected PMI readings in the eurozone. Easing concerns over supply disruption from the North Sea coupled with strong US Dollar pushed the commodity lower.

Natural gas was the top-loser after the US supply data. The EIA reported that natural gas stockpiles jumped by 65 billion cubic feet last week, broadly in compliance with market consensus.

Heating oil slid on smaller-than-expected fall in the US distillate fuel inventories last week. 


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