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May 1st, 2012

CES Market Summary Released for May 1, 2012

by Tobias Grindal, Energy Analyst

Crude oil prices fell on Monday, but then had four straight days of gains to end the week up by about one percent. Mostly positive economic indicators throughout the week gave credence to a resurgent American economy. This was enough to offset continued evidence that China’s economy is slowing down and that the European Union faces a tenuous path to overcome the debt crisis that has plagued it for over two years. Additionally, The Department of Energy released a report during the middle of the week stating that U.S. crude oil production is now at its highest level since November 1999. Natural gas futures capped their first weekly gain since mid-March on forecasts for colder-than-normal weather in the eastern and central U.S.

For the entire CES Market Summary, please see: http://www.competitive-energy.com/market-summary/CESMarketSummary_043012.pdf

 

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