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June 6th, 2012

CES Market Summary Released for June 5, 2012

by Michelle Tham, Director of Analytics

Last week was a four-day trading week due to Memorial Day holiday. Crude oil fell each day last week, traveling a downward span of over $7.50 for the prompt month contract. Economic woes in the domestic labor market and in Europe, coupled with a 22-year high in crude oil stocks, helped to bring prices down. Gas also tumbled last week, moving down for the second week in a row on forecasts for below-normal cooling needs across the East. However, a bearish market last week is tempered by the substantial bullish factor of a shift in power generation fuel from coal to gas, given the current low prices.

For the entire CES Market Summary, please see:  http://www.competitive-energy.com/market-summary/CESMarketSummary_060412_.pdf

 

 

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