Energy commodities declined on easing supply concerns

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Source: Dukascopy Bank
Energy commodities slid on Tuesday on the appreciating US Dollar and easing supply disruption worries. The energy market was under pressure from rumours that Saudi Arabia plans to boost its oil output to offset any shortages after total Iranian oil embargo comes in force. Moreover, the crude and Brent oil were volatile during Tuesday's sessions due to expiration of April contract. The oils were also pressured as Libyan exports of oil are returning to the pre-war level at the faster pace than expected. From the demand side, energy commodities were balancing between improved economic situation in the US and dismal outlook on China's economy. Natural gas retreated from two-week high as investors expect an increase in natural gas inventories while mild spring weather in the US is likely to cap any upward move of the commodity.


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Wed, 21 Mar 2012 12:26:12 GMT

UK budget shortfall doubled in February

British budget gap nearly doubled in February on improved spending and drop in taxes, the Office for National Statistics reported on Wednesday. The net borrowing eliminating support for lenders reached GBP 15.2 billion compared to a GBP 8.9 billion a year ago. The analysts questioned by Bloomberg earlier predicted a deficit of around GBP 8 billion. 

Wed, 21 Mar 2012 13:12:02 GMT

Industry metals tumbled on Tuesday on weak China's demand

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