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April 3rd, 2012

CES Market Summary Released for April 3, 2012

by Michelle Tham, Director of Analytics

Crude oil prices ended the week down by about 3 percent in large part because of news out of France during the middle of the week that the U.S. and Europe are considering tapping strategic reserves to alleviate high gasoline prices. Prices had been up at the start of the week after Federal Reserve Chairman Ben Bernanke said that the Central Bank was likely to keep interest rates near zero unless the economy improves substantially.

Natural gas futures dropped every day last week and headed into the weekend down over 5.5 percent for the week. The same factors mentioned in last week’s Market Summary continue to put downward pressure on gas prices, including persistently high storage levels, warmer-than-normal temperatures, and a reluctance of suppliers to reduce production despite low prices.

For the entire CES Market Summary, please see http://www.competitive-energy.com/market-summary/CESMarketSummary_040212.pdf

 

 

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