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December 23rd, 2013

Market Summary for the Week of December 16 - December 20, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil prices rose four out of five trading days last week as positive economic signals pointed toward demand growth and domestic crude oil storage levels fell for the third straight week. In addition, the closure of three oil export terminals in Libya is boosting Brent crude prices. Natural gas prices declined on Monday and Wednesday from warm weather forecasts before skyrocketing on Thursday after the EIA announced the previous week’s withdrawal of 285 billion cubic feet, a record high since the EIA began publishing storage reports in 1994.

To view the complete Market Summary, click here.

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