Brent oil declined after Iranian talks in Moscow

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Source: Dukascopy Bank SA
Energy markets were mixed on Tuesday amid weaker US Dollar and stronger equities. Expectations for the next round of QE in the US continued to dominate market sentiment.

Crude oil was top-gainer on easing hopes. At the same time, global growth fears continued to dent energy demand prospects thus pressurizing the price.

Brent oil fell despite lack of clear result from recent negotiations between Iran and world powers in Moscow. However, Iran's intention to be firm during July talks may create fresh stimulus for the commodity.

Natural gas tumbled as traders cashed out from the market after natural gas managed to rally by 7% on Monday. Meanwhile hot weather in the US is likely to boost natural gas demand for air-conditioning.

Heating oil followed crude oil, appreciating by 0.67%. However, the upside was limited by Brent oil weakness and global demand uncertainty.


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