Energy commodities, excluding natural gas, posted slight losses on Monday amid appreciating US Dollar and negative headlines from the single currency union. Meanwhile, signs of lower OPEC production limited losses of the commodity group.
Crude oil dropped as hopes for stimulus measures from the Fed and ECB failed to outweigh lingering demand concerns.
Brent oil lost 0.25% as spreading debt crisis in Eurozone weight on demand prospects. However, potential decline in supplies after Iranian oil embargo came in force restricted the downswing.
Natural gas was the only gainer, attaining seven-month high amid abnormally hot weather forecasts in the US.
Heating oil futures decreased by 0.36% on demand concerns. Meanwhile, investors await US distillate fuel inventories data due on Wednesday.