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August 26th, 2013

Market Summary for the Week of August 19 - 23, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

WTI fell three straight days last week before rising on Thursday and Friday as the market oscillated around speculation that the Federal Reserve may soon begin tapering its $85 billion per month bond purchase program. The 12-month WTI strip ended the week down one percent, while Brent’s premium to WTI grew to over $4 per barrel. Natural gas futures rose three out of five days last week and the 12-month strip gained over three percent after weather forecasts predicted above-normal temperatures for most of the U.S. through the end of August, and the EIA storage report showed a lower-than-expected stockpile increase.

To view the complete Market Summary, click here

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