© Scanpix/AFP
|
Crude oil moved down as US inventories are expected to have increased last week. At the same time, some uncertainty over supplies from the US East Coast persisted, limiting the downswing of the crude oil futures.
Brent oil slumped on expectations that US inventories climbed last week. However, the downside was restricted as OPEC announced that its output slid by 0.3% due to sharp drop in Iranian oil supplies.
Natural gas plunged on bloated inventories in the US and mounting slowdown concerns after destructive Hurricane Sandy.
Heating oil traded lower ahead of the US inventory data due on Thursday. Meanwhile, heating oil inventories dropped below the average level last week.