Brent oil climbed last week despite rising Saudi Arabia's output

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Energy futures moved higher last week on upbeat China's data and a decline in the US inventories. On Monday, US markets were closed for the Martin Luther King Jr. holiday. Adding to the positive mood of the commodity group, the International Energy Agency revised upward its global demand forecast for this year by 240,000 barrels per day, citing strong demand from China.

Crude oil advanced amid a drop in US stockpiles and hopes for robust global demand. Upbeat China's data also lifted the commodity. However, worries about the US debt ceiling dispute capped gains.

Brent oil climbed despite speculation that global supplies may have jumped too fast in the recent months due to an increase in Saudi Arabia drilling to compensate any shortages caused by Iranian oil embargo.

Natural gas was the top-performer as US inventories declined more than expected in the week ended January 13. Colder weather forecasts boosted heating fuel demand potential, spurring rally of natural gas futures.

Heating oil climbed amid colder temperatures in the US and low inventory levels. US inventories remained about 40% lower than a year earlier last week.
Back to articles

Actual Topics

Tue, 22 Jan 2013 09:44:05 GMT

Chinese equities edge lower on Tuesday

Chinese shares retreated after rallying to their eight-month high. The Shanghai Composite Index slid 0.7% to 2,312.23. The shares that slid the most were those of consumer staples group, whereas banks edged higher. Citic Bank advanced 3.1% to 4.68 yuan, while Singapore's Oversea-Chinese Banking Corp. soared 6.5% to 11.51 yuan.

Tue, 22 Jan 2013 11:14:23 GMT

Copper drops on US debt ceiling uncertainty

Base metals were bearish on Monday despite hopes that the BoJ will announce additional easing measures at its meeting on Tuesday. Dampening the market sentiment, investors continued to monitor political developments across the US debt ceiling talks. At the same time, weaker US Dollar limited losses of industrial metals Aluminum dropped despite weaker US Dollar and hopes for further easing in

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.