Energy markets impacted by demand worries

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Source: Dukascopy Bank
Energy commodities ended Tuesday on a negative note as global demand concerns offset supply restrictions from Iran. Weaker equities coupled with pessimistic data from the Euro Zone added pressure to the commodity group. Although China's crude oil imports remained at the record high level, overall fall in China's imports may indicate weaker economic stance of the country. Meanwhile oil prices gained support from the news that Iran is likely to halt oil exports to Germany and Italy ahead of negotiations with Western economies. At the same time natural gas retested 10-yer low as US natural gas inventories continued to grow while global economic concerns also added to the bearish trend of the commodity.


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