Natural gas soared on bargain hunting

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures apart from natural gas slumped ahead of the US inventory report due on Wednesday. Broadly stronger US Dollar and mounting worries over forthcoming fiscal battles in the US weighted on the commodity group. However, better-than-expected figures from the US and Eurozone limited the downward trend.

Crude oil tanked as long-waited Greek bailout deal was outweighed by renewed concerns over the US fiscal cliff. Moreover, solid greenback coupled with increased caution ahead of the EIA weekly supply report added to losses of crude oil futures.

Brent oil sagged amid easing supply concerns in the Middle East and strong US Dollar. Pushing the commodity lower, experts predict an increase in the US oil by 0.5 million barrels last week.

Natural gas jumped ahead of expiration of December's contract due on Wednesday. Furthermore, bargain hunting also lifted natural gas prices.

Heating oil was the top-loser ahead of the EIA supply report due on Wednesday.
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