Brent oil extended losses amid Euro Zone's turmoil

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Source: Dukascopy Bank
Energy markets slid on Friday amid resumed debt worries in the Euro Zone after elections in Greece and France. Moreover, signs of slowdown in China lingered demand concerns.

Crude oil posted the second weekly loss as sluggish growth of the industrial production in China outweighed positive consumer confidence data from the US.

Brent oil continued to move lower along with political and economic uncertainties in the single currency union. Additionally, supply risk-premium was removed after Iran reported it would do its best to come to a consensus with six major economies regarding its nuclear programme .

Natural gas rose as news on sharp decline in output among US produces continued to lend support for the commodity.

Heating oil extended previous losses, following bearish trend on crude and Brent oil.


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