Energy markets fluctuated on supply news on Tuesday

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Source: Dukascopy Bank
Energy commodities moved down on Tuesday as the US Dollar regained strength. The energy markets were mostly balancing between likelihood of strategic reserves release and supply disruptions. Charles McConnell from the US Energy Department reported that the option of releasing oil reserves is being considered as a measure against accelerating inflation. At the same time tensions in the core oil pumping countries escalated. South Sudan bombed the key oilfields in the Unity state while investors also continued to eye developments across Iranian nuclear programme. Natural gas tested the new 10-year low amid concerns over the record US inventory levels and soft weather in the country.


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