Geopolitical tensions lifted crude oil on Monday

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Source: Dukascopy Bank
Energy products were mostly higher amid growing price for crude oil and natural gas. However, Brent oil and heating oil faced some losses over the day. Energy prices are mainly supported by the escalated geopolitical tensions in Mideast as Iran threats to halt oil exports to some European countries. Moreover, speculation that Israel plans to attack Iran added to gains. At the same time, spread between Brent and crude oil hit all times high. Progress in Greek debt talks may continue to lift energy prices.  Natural gas, the top gainer, was mainly backed up by the massive production cuts in the US amid weak prices.


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Tue, 21 Feb 2012 12:53:30 GMT

Rural commodities continued rally

Agricultural commodities continued Friday's rally amid expected fall in South American exports. Grain commodities were the top gainers on Monday as investors anticipate stronger demand for US grains from Asian markets. Sugar price was lifted as China may cut sugar imports due to unfavorable weather during the harvesting period. However, the upward move is likely to be limited as sugar

Tue, 21 Feb 2012 13:46:04 GMT

Japan to agree on Iran oil import reduction

Japan and US is looking forward to reach an agreement to cut crude imports from Iran. The deal is expected to be closed by the end of February. Japan's oil dependence has increased since March earthquake in 2011. Therefore oil sanctions threaten economic growth. However, avoiding embargo would harm Japanese foreign financial operations. 

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