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May 28th, 2013

CES Market Summary for the Week of May 20 - 24

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

WTI crude oil and heating oil came off last week, largely due to a bearish storage report from the EIA on Wednesday. Globally, heavy fighting between government and rebel forces in Syria put upward pressure on crude prices, while a contraction in China’s manufacturing sector helped to keep prices in check. Natural gas climbed last week as weather forecasts showed that the Northeast and Midwest may be jumping from the heating season into the cooling season. Furthermore, the Energy Department's mid-May approval of an LNG export facility in Texas had a lingering effect on gas futures.

To view the complete Market Summary for the week May 20- 24, click here

 

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