Energy commodities were mixed after the ECB denied reports that it may set a cap on peripheral bond yields. However, continuous supply concerns limited the downward trend of the commodity group.
Crude oil sank as risk appetite deteriorated on misleading reports regarding further ECB measures aimed at easing debt pressure in the Eurozone.
Brent oil retreated amid demand worries as China is expected to stick to the prudent monetary policy to maintain property curbs. Meanwhile, threat of the storm in the Caribbean restricted the downward move of the energy prices.
Natural gas was higher on concerns over the increased likelihood of the hurricane in the Gulf of Mexico. However, recent buildup in US natural gas inventories capped the upswing.
Heating oil was flat, balancing between demand concerns and supply worries as US inventories remain below the average range for this time of the year.