Mixed performance in energy markets as oil declines while natural gas rises
Istanbul, July 24 (Hibya) – Oil prices continued their downward trend in energy commodity markets, while natural gas prices posted modest gains. Fuel futures generally remained under selling pressure.
Energy commodities traded in global markets posted mixed performances on the final trading day of the week. Crude oil and Brent crude prices declined, while natural gas prices moved higher.
U.S. West Texas Intermediate (WTI) crude fell 0.53 percent to $91.70. Global benchmark Brent crude declined 0.36 percent to trade at $100.33.
Natural gas outperformed the broader energy market. Natural gas futures rose 0.38 percent to 2.927.
Fuel products, however, remained under selling pressure. RBOB gasoline futures fell 1.05 percent to 3.4597, while Ultra-Low Sulfur Diesel (ULSD Heating Oil) futures slipped 0.04 percent to 4.3398.
The rise in natural gas prices despite lower oil prices suggests that commodity markets continue to reflect differing supply-demand dynamics and expectations regarding the global economy.
British News Agency
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