Brent oil jumped on US fiscal hopes, upbeat US housing data

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures advanced on Wednesday on hopes that US officials will resolve the budget impasse thus avoiding recession in the country. Moreover, larger-than-expected increase in the US home prices in October as well as weaker greenback spurred rally of the commodity group.

Crude oil rebounded on expectations that US lawmakers will reach an agreement on fiscal policy before the January 1 deadline. Meanwhile, investors continued to await fresh EIA weekly oil supplies report due on Friday. Experts claim crude oil stocks may have declined by 1.6 million barrels last week.

Brent oil bounced off recent lows as optimism over US fiscal negotiations revived energy demand prospects. Upbeat data from the US housing market coupled with soft US currency added to gains of Brent oil futures.

Natural gas climbed on bright short-term demand expectations for heating fuel. Updated weather forecasts indicated colder-than-normal temperatures in the most US territory in the next seven-to-ten days.

Heating oil gained 1.64%. Colder temperatures and potential drop in the US inventories last week lifted the commodity.
Back to articles

Actual Topics

Thu, 27 Dec 2012 11:02:35 GMT

Corn dipped after USDA report on US exports

Farm commodities were mixed in post-holiday trade on Wednesday. Improved risk sentiment due to hopes for US fiscal deadlock resolution was supportive for rural commodities. At the same time, weak US export data weighted on grains.Wheat was the top-loser after the USDA reported that US exports dropped 9.1% to reach the lowest level since 2009 in the week ended December

Thu, 27 Dec 2012 10:18:36 GMT

Copper drops 1.5% on weekly basis

Base metals were bearish over the last week as market players were worried about lack of progress in the US fiscal standoff. Moreover, weak industrial figures from the US added pressure on the industrial metals. Richmond Fed manufacturing index slumped to 5.0 in December in contrast to forecasts of an increase to 12.0 this month. However, the reading above 0.0

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.