Heating oil sank ahead of US supply report

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures except for crude oil dropped on Tuesday on weaker greenback and easing measures from the BoJ. Uncertainty over damages caused by Hurricane Sandy created heavy selling pressure on the energy futures.

Crude oil was the only gainer on broadly weaker greenback. Meanwhile, investors were cautious as the EIA postponed its US inventory report to Thursday.

Brent oil moved lower as Hurricane Sandy weighed down on oil demand in the US. However, refineries at the US East Coast started to resume production gradually.

Natural gas sank as Hurricane Sandy threatens demand for the commodity. Meanwhile, natural gas supplies stood above the average level last week.

Heating oil plunged ahead of the US supplies report due on Thursday. Meanwhile, heating oil inventories dropped below the average level last week.
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