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August 12th, 2013

Market Summary for the Week of August 5 - 9, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil futures fell four straight days last week before rising on Friday on positive economic news from China. Factors contributing to oil’s downward move included the reopening of several Libyan ports following labor disputes, speculation that the Fed may reduce economic stimulus, and a report showing American crude production at a near 14-year high. Natural gas futures fell four out of five days last week and the 12-month strip shed over 2.5% after weather forecasts showed below-normal temperatures for most of the U.S. through mid-to-late August, and the EIA storage report showed an injection which exceeded expectations.

To view the complete Market Summary for the Week of August 5 - 9, click here

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