Energy commodities plunged on Friday on speculation that the International Energy Agency will release oil reserves as soon as in September in order not to dampen the results of Iranian oil sanctions. However, supply concerns from the Gulf of Mexico restricted the downswing of the commodity group.
Crude oil retreated after IEA announced that US strategic oil reserves may be released soon to curb rising oil prices and support Iran's oil embargo.
Brent oil dropped despite supply threats from the Gulf of Mexico and Norway. Norwegian oil workers broke off salary talks with oil firms, implying that new strike is highly possible.
Natural gas tumbled to fresh seven-week low on high inventories and mild weather in the US.
Heating oil followed Brent and crude oil trend, falling by 0.73% on talks that US may releases its strategic oil inventories.