Oil has Shifted from Supply to Demand Worries: Expert

12:00 PM ET Fri, 6 July 2012

"Oil is so much about the general mood on the markets which has been changing dramatically throughout the whole year, the beginning of the year the market was very concerned about Iran, in the second quarter of this year the mood has changed completely," Eugen Weinberg, head of commodity research at Commerzbank, told CNBC.