Brent oil advanced as Iran's negotiations were fruitless

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Source: Dukascopy Bank SA
Energy markets followed bullish trend on Thursday after news that Iran and six major economies failed to reach a consensus on Iran's nuclear program.

Crude oil managed to add almost 1% as potential supply disruptions spurred the commodity price. However, weak manufacturing data releases across the world restricted crude oil's gains.

Brent oil was the top-performer as supply risk-premium returned after negotiations between Iran and six major powers  failed to generate positive outcome.

Natural gas was the only loser, falling by more than 3% after EIA reported a buildup in the US inventories that was in line with expectations.

Heating oil traded in tandem with Brent and crude oil on Thursday; however, hot weather limited the upward move of the commodity.


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