Brent oil draws strenght from geopolitical tensions

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Source: Dukascopy Bank
Energy markets were mixed on Tuesday with advancing crude and Brent oil and falling heating oil and natural gas. Energy commodities received strong stimulus after the EU nations finally agreed on the long-awaited Greek bailout. Moreover, continuous geopolitical tensions across Iranian nuclear program significantly weighted up on the Brent and crude oils. Potential conflict between Iran and Israel or US and Iran fuelled worries over the oil supply disruption.  Investors also await IEA reports on the natural gas and oil stockpiles in the US. Meanwhile, mild weather forecasts in the US outweighed expected inventory fall and the natural gas lost 2.16% over the day.


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