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September 18th, 2012

CES Market Summary Released for September 18, 2012

by Michelle Tham, Director of Analytics

Crude oil has climbed eight out of the last ten trading days. Last week's movement was dominated by speculation and subsequent confirmation that the Federal Reserve was initiating QE3, a third round of bond purchases intended to stimulate a stagnating U.S. economy. Natural gas jumped last week on anticipation that Hurricane Isaac substantially affected gas production in the Gulf of Mexico, although the fears were allayed on Thursday by the EIA storage report. Mild weather forecasts for the next two weeks had a bearish effect on gas prices and should continue to do so.

For the entire CES Market Summary, please see: September 17, 2012

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