Brent declined on potential output increase

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Source: Dukascopy Bank
Energy commodities were mixed amid inspiring manufacturing data from the US and China and increasing US oil stockpiles.

Crude oil gained more than 1% as positive PMI data lifted hopes for better demand prospects.

Brent oil tumbled after Nigeria reported it aims to increase its oil output to four million barrels per day by 2020. Falling imports of the Iranian oil worldwide added to the negative mood of the commodity.

Natural gas traded sharply higher as essential supply reduction in the US outweighed record-high inventory levels.

Heating oil was pressured by high stockpiles in the US; the commodity may be lifted by lower temperatures in the US and UK.


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