Brent oil declines but weaker US Dollar limits losses

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Energy futures tumbled on Monday amid escalated economic fears ahead of the decision on the next Greek bailout installment. Market sentiment was also dampened by the win of separatist parties in local election in Catalonia. Meanwhile, broadly weaker US Dollar and on-going supply concerns limited losses of the energy futures.

Crude oil moved lower after previous rally as demand worries offset supply uncertainty in Middle East.

Brent oil slumped on weak risk appetite before decision of Eurozone's finance ministers on Greek bailout. However, weak US Dollar limited losses of the commodity.

Natural gas plunged after updated weather forecasts showed that warmer-than-normal temperatures across the US will descent only in the first week of December.

Heating oil slid as warmer-than-normal weather forecasts hit heating demand potential of the commodity.


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