Crude oil advanced on supply concerns

Source: Dukascopy Bank SA

Energy commodities climbed as turmoil in West Asia created a supply-risk premium for the commodity group. From the demand side, energy prices were supported by speculation that the Fed may ease its monetary policy in view of weak job market.

Crude oil rallied for the second session, approaching 11-week high as investors focused on potential supply disruptions from West Asia.

Brent oil followed bullish trend amid persistent tensions in the Middle East. A conflict in Syria threatens to spread into neighbor countries.

Natural gas halted downward move despite cooler weather forecasts in the US and bleak demand outlook.

Heating oil eased up on potential increase in demand as the ECB plans to restart its bond-purchasing program.

 

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