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September 11th, 2012

CES Market Summary Released for September 11, 2012

by Tobias Grindal, Energy Analyst

Last week was a four-day trading week because of the U.S. Labor Day holiday.  Crude prices fell on Tuesday after poor economic data was released from the U.S., Europe, and China, raising concern about economic growth and global oil demand. Oil ended the week with three straight days of gains as the European Central Bank formally announced its bond-purchase program and a disappointing U.S. jobs report fueled speculation that the Federal Reserve will enact more stimulus measures. Natural gas followed the opposite pattern – rising on Tuesday before falling every day thereafter – as forecasts called for cooler weather that would limit demand from power plants for air conditioning needs.

For the entire CES Market Summary, please see: CES Market Summary Sept. 11, 2012

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