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May 15th, 2012

CES Market Summary Released for May15, 2012

by Tobias Grindal, Energy Analyst

Crude oil fell four out of five days last week to end the week at a low for 2012. Weighing heavily on markets were elections in France and Greece over the previous weekend that added to uncertainty about Europe’s economic growth prospects. Additional downward pressure arrived later in the week from reports suggesting that both the Chinese and Indian economies might be slowing down, and on the news that U.S. crude oil inventories rose to their highest level since August 1990. Natural gas prices rose every day last week, primarily on forecasts for warmer-than-normal weather and a below-average storage injection.

For the entire CES Market Summary, please see: http://www.competitive-energy.com/market-summary/CESMarketSummary_051412.pdf

 

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