Brent oil surges on inventory data; EIA outlook cuts gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures except for natural gas moved higher on Wednesday after the EIA supply report indicated an unexpected drop in crude oil inventories last week. Furthermore, calming worries over Cyprus bailout as well as continuation of the growth-boosting measures by the Fed lifted the commodity sector.

Crude and Brent oil advanced after the EIA report showed a drop in US inventories last week. US stockpiles declined 1.3 million barrels last week compared to a forecast of a 1.8-million-barrel increase. However, the upswing was capped by the EIA short term energy outlook. The EIA expects US oil production to exceed imports by two million barrels per day by 2014.

Natural gas was the only loser as markets priced in forecasts of colder-than-normal temperatures in the most US territory. Meanwhile, market players were cautious ahead of the EIA inventory report due on Thursday. Experts predict the report to show a 70-bilion-cubic-feet decline in the US stocks last week.

Heating oil jumped despite smaller-than-expected decline in the US distillate fuel inventories. US storage dropped 700,000 barrels last week, while analysts projected a 1.5-million-barrel decline.
Back to articles

Actual Topics

Thu, 21 Mar 2013 11:08:06 GMT

Corn jumps as cold weather slows planting

Farm commodities followed bullish trend on Wednesday as fears over Cyprus waned boosting demand for riskier assets. Moreover, signs of stronger demand for US grains as well as concerns over rain forecasts in Brazil pushed the commodity sector higher. Wheat rallied on talks that wheat's price discount to corn may result in an increase in demand from livestock producers. Iraq and

Thu, 21 Mar 2013 10:24:15 GMT

Copper rose as strike in Chile threatens shipments

Industrial metals were bullish on Wednesday ahead of China's HSBC flash manufacturing PMI release due on Thursday. Experts predict PMI to expand to 51.2 from 50.4 in the previous month. Moreover, decision of the Fed to leave its loose policy unchanged supported the commodity sector. Aluminum rose on expectations of production cuts and rising premium paid on the physical market amid

Subscribe to "Fundamental Analysis" feed

Subscrever
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre as opções binárias do Dukascopy Bank / Plataforma de negociação Forex, SWFX e outras informações relacionadas com Trading,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para saber mais sobre a plataforma de Trading / Trading de Crypto/ CFD / SWFX e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para saber mais sobre o programa de Introdutor de Negócios e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.