Crude oil tumbled on demand concerns

Source: Dukascopy Bank SA
Energy markets except for natural gas dipped on Tuesday on global demand concerns and sell-off of riskier assets.

Crude oil was top-loser amid high output levels from OPEC and potential demand slump in view of slowing economic expansion in the US and persistent financial woes in the Eurozone.

Brent oil posted losses as negative headlines from the US, China and the Eurozone continued to dampen risk-appetite among market participants.

Natural gas was the only gainer after EIA report indicated that US inventories increased less than expected last week.

Heating oil was lower as demand is likely to slide amid global financial instability.


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