Heating oil dropped amid Asian slowdown concern

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Energy futures sank on Friday despite softer US Dollar and supply-side support. Mounting uncertainty over eurozone's debt crisis pushed the commodity group lower. However, positive job market figures from the US limited losses of energy futures.

Crude oil was the worst-performer on speculation that global demand is likely to fall amid economic slowdown in Asia and eurozone. Meanwhile, investors remained cautious ahead of the elections' results in Venezuela.

Brent oil lost 0.5% as supply threats from the Middle East and North Sea limited the downward trend of the commodity.

Natural gas eased down on worries that US stockpiles are approaching the limit. On Thursday, the EIA reported that natural gas supplies advanced more than expected last week, moving above five-year average range.

Heating oil moved in tandem with Brent and crude oil, falling by 1.02% on global growth fears. However, lower US inventories restricted the downswing of the commodity.

 

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