Crude oil declined amid global demand concerns

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Source: Dukascopy Bank SA
Energy markets apart from natural gas fell on Thursday as deteriorating situation in the Eurozone continued to dent demand prospects.

Crude oil declined by more than 1%, posting the largest monthly decline in the last three years. Turmoil in the Eurozone and slowing China's economy weighted down on the commodity price.

Brent oil plunged amid weakening demand; however, lack of resolution of tensions between Iranian  and the West restricted the downswing.

Natural gas was the only gainer as industrial demand is likely to strengthen. Meanwhile US stockpiles rose in line with expectations last week.

Heating oil futures decreased on global demand uncertainty as world's real estate market and manufacturing activity remain weak.


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