Friday, 17 April 2015

Commodity Market Tips for Energy

Crude oil prices jumped to fresh 2015 peaks on Thursday, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen.

The terminal is one of the major hubs for the Hadramout region exporting an average of 120,000 to 140,000 barrels per day (bpd) of crude from fields in the area.

U.S. natural gas futures ended up 2.8 percent on Thursday as traders shrugged off a bigger-than-expected storage build on short-covering. The U.S. Energy Information Administration said utilities added 63 billion cubic feet (bcf) of gas into storage during the week ended April 10, topping analysts estimates for a build of 53 bcf in a Reuters poll.

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