Crude oil dropped despite positive US data

Note: This section contains information in English only.
Source: Dukascopy Bank
Energy markets balanced on Wednesday between Greek political uncertainty and lower than expected increase in US inventories.

Crude oil ended the day on the negative note, being pressured by stronger US Dollar. However, rising industrial production in the US restricted the downswing.

Brent oil was the top-loser amid high risk-aversion among investors caused by endless turmoil in the Euro Zone. Moreover, looming negotiations between Iran and six main economies continued to weight on the price.

Natural gas extended its rally ahead of IEA inventory data due on Thursday that is likely to indicate a 25 billion Btu increase last week as compared to 30 billion Btu in the week ended May 4.

Heating oil dropped on expectation for weaker demand from the EU.


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