Energy commodities little changed on Monday

Note: This section contains information in English only.
Source: Dukascopy Bank
Energy commodities apart from natural gas were little changed on Monday as market balanced between supply and demand concerns. From the supply side, IAEA reported that Iran increased its production of higher-grade enriched uranium three times thus escalating worries over military strike between Iran and Israeli. Moreover, Barack Obama met Benjamin Netanyahu to discuss the situation in the region. Further, pipeline near Quraiya in Syria was hit by explosion as Syria started military actions in the area. From the demand side, China decreased its growth outlook to eight-year low of 7.5% while the US and EU industry data also dampened market sentiment. Natural gas traded in a bearish trend on Monday on the mild weather forecasts and record high US stockpiles.


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