Brent oil declines ahead of EIA report

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Source: Dukascopy Bank SA
Energy futures finished Thursday's session in a red territory as market players shunned riskier assets after the Fed hinted it may end its bond-purchasing program this year. Mixed signals from the US job market also pushed energy prices lower. Meanwhile, traders were cautious ahead of the EIA weekly stockpiles report due on Friday.

Crude oil lost 0.22% on US stimulus concerns and solid US Dollar. Meanwhile, experts say that US inventories may have fallen 0.7 million barrels last week compared to a decline of 0.6 million barrels a week earlier.

Brent oil declined on worries over US demand prospects as the Fed may stop its easing measures.

Natural gas prolonged its slump as weather forecasts continued to show warmer temperatures in the most US territory. However, the commodity may be lifted by a likely withdrawal of 129 billion cubic feet last week versus a 72-billion-cubic-feet fall in inventories a week earlier.

Heating oil traded lower ahead of the weekly EIA report due on Friday. Warm weather forecasts in the US added to losses of heating oil futures.
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