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May 13th, 2013

CES Market Summary for the Week of May 6 - 10

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil inched up less than one percent last week as tensions rose between Syria and Israel, and the EIA storage report showed a net gain in crude stocks that was one-tenth of projections. On Wednesday, the premium between Brent and WTI crude fell to a 28-month low of $7.72 per barrel. Natural gas fell for the third week in a row as moderate temperatures throughout the eastern United States during the shoulder season kept demand in check. Prices fell for four out of five days; gas saw its only daily gain on Wednesday as the $4/MMBtu mark seemed to be a technical resistance point.

To view the complete Market Summary for the week May 6 -10, click here

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