Energy prices moved lower on demand worries on Friday

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Source: Dukascopy Bank
Energy prices apart from heating oil declined on Monday as broadly stronger greenback and softer global equities weighted down on the commodity group. Moreover, negotiations between Iran and Western economies during last weekend removed the supply risk premium for Brent and crude oil. From the demand side, the commodity group also lost backup as China's economy is slowing while peripheral Euro Zone members continued to dive into debt crisis. At the same time natural gas futures extended previous losses as US inventories elevated while production continued to grow. Adding to the downside of the commodity US weather is likely to stay mild pulling the demand down.


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