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August 19th, 2013

Market Summary for the Week of August 12 - 16, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

WTI gained each day last week, capping off six consecutive days of gains. Labor strikes at the major Libyan oil terminals and an intensification of political unrest in Egypt are bolstering prices, especially for London-traded Brent. On the bearish side, domestic demand for crude products is declining. Natural gas also rose last week, the first weekly gain in the past four weeks. Forecasts for late August are showing above-average cooling demand for much of the U.S., boosting demand for gas-fueled electric generation. 

To view the complete Market Summary, click here

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