Energy commodities except for crude oil moved lower ahead of the US inventory data release due on Thursday. Adding pressure on the commodity group, most of the refineries in Louisiana restarted production as tropical storm, Isaac, passed.
Crude oil was almost flat, balancing between easing concerns over supply disruption from the Gulf of Mexico and potential fall in the US crude oil inventories.
Brent oil fell as supply risk-premium vanished on news that US refiners are resuming operations. However, expectations that the ECB will announce stimulus measures restricted the downswing.
Natural gas sank after the US National Weather Services stated that Northeast and Midwest are likely to face normal temperatures in the next 10 days.
Heating oil retreated as supply worries started to vanish. Meanwhile, traders await US stockpiles report due on Thursday.