Natural gas caught momentum on production cuts

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Source: Dukascopy Bank
Energy market faced mixed performance as energy commodities balanced between Iranian threats to halt European oil exports and weaker than expected US economic expansion. However, the crude oil price is expected move higher as hedge funds and speculators raised their net long positions in crude oil to two-month high. Natural gas was the top gainer over the whole week, soaring by more than 15% on a weekly basis. Production cuts in the US and fall in the US natural gas inventories are likely to stimulate the upswing. Moreover, cool temperatures may encourage demand for the commodity.


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