Brent oil advanced amid supply concerns

Source: Dukascopy Bank SA
Energy markets were solid on Monday due to renewed supply worries after world powers failed to agree with Iran on its nuclear program.

Crude oil was the top-performer as supply risk-premium returned amid escalated tensions in the Middle East and expectations for tropical storm Beryl.  

Brent oil moved up as indications that Iran actively continues its nuclear program outweighed deepening debt crisis in the Euro Zone.

Natural gas followed bearish trend as US stockpiles continued to rise while demand from residential sector is likely to fall.

Heating oil was supported by rising crude and Brent oil prices whereas demand uncertainties from the Euro Zone created pressure on the heating oil price.


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