Brent oil added to losses on eased supply worries

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Source: Dukascopy Bank
Energy commodities tumbled on Friday, being pressured by stronger US Dollar and weak economic data releases.

Crude oil declined amid elevating US inventories that hit the highest level since 1990 last week.

Brent oil extended previous losses as high likelihood of positive outcome from Iran's meeting with world six major powers on May 23 removed risk-premium for the commodity.

Natural gas decreased as traders started to cash out from the market after natural gas soared by about 10% over the last week.

Heating oil followed a bearish trend as weakness of the US labour market and the Euro Zone's turmoil weighted down on the commodity price.


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Mon, 07 May 2012 14:30:02 GMT

Coffee fell amid favorable weather in Brazil

Agricultural commodities were mixed on Friday as negative headlines from the Euro Zone and US lingered concerns that global demand may weaken.Wheat continued to be pressured by stronger greenback and favorable weather forecasts in the US. However, robust demand from the EU and China may lift the price in the medium-term.Corn advanced on strong US sales, especially to Mexico and

Mon, 07 May 2012 14:01:04 GMT

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