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December 30th, 2013

Market Summary for the Week of December 23 - December 27, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil rose for the second week in a row, continuing the rally in oil prices since December 1. Most of the movement came on Friday, when the weekly EIA storage report was released. The bullish report showed a decline in stocks of crude and crude products, along with an increase in refinery rates and demand. Natural gas prices declined slightly over the week, ending a seven week rally in prices. Initial cold weather forecasts were balanced out by a stockpile report that, while large, met analyst’s expectations and was already priced into the market.

To view the complete Market Summary, click here.

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