Heating oil followed common bearish trend

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Source: Dukascopy Bank
Energy markets tumbled on Thursday along with high risk-aversion among investors in view of the economic and political instability in the Euro Zone. On Thursday, Moody's downgraded 16 Spain's banks while Fitch cut Greek credit rating to ‘CCC'.

Crude oil declined, following disappointing release of Philadelphia's manufacturing index. At the same time, investors eyed negative developments in the Euro Zone that spurred risk-aversion in the markets.

Brent oil approached the lowest level since December as eased supply concerns in the Middle East and low risk-appetite in the markets weighted down on the commodity.

Natural gas dropped after EIA released US energy supplies report that indicated larger than expected buildup in the natural gas stockpiles.

Heating oil followed common tendency and fell by 1.68% amid uncertainty over the Euro Zone's demand.
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