Crude oil slid on weak industry data

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Source: Dukascopy Bank
Energy markets continued to slump on Monday along with worries about slowdown in China's economy and turmoil in the Euro Zone.

Crude oil dropped as China's and Euro Zone's industrial production data missed forecasts. Meanwhile, increased risk-aversion in the light of the Euro Zone's political instability also pushed crude oil down.

Brent oil followed crude oil's suit and declined by 0.62% as China's oil demand attained six-month low last month. Moreover, removed supply risk-premium after tensions between Iran and world's major economies eased continued to impact Brent oil's price.

Natural gas dropped for the first time in the last seven days on profit taking after sharp rally of the commodity price.

Heating oil mainly tacked losses of crude and Brent oil while warm spring weather also weighted.
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Tue, 15 May 2012 11:38:23 GMT

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