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April 22nd, 2013

CES Market Summary for the Week of April 15 - 19.

by Tobias Grindal, Energy Analyst

Crude oil futures slid for the third straight week last week as China’s first-quarter GDP growth failed to meet expectations, the IMF reduced its projection for global economic growth in 2013, and the EIA reported that U.S. production rose to its highest level since June 1992. Natural gas rose four out of five days last week as forecasts called for another cold front moving through the central U.S. during the fourth week of April, boosting heating demand. The EIA storage report added to the bullish sentiment; although it reported the first net injection of this year, the amount was smaller than projected and widened the deficit against historical stock levels for this time of year.

To view the complete Market Summary for the week April 15 - 19, click here

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