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January 21st, 2014

Market Summary for the Week of January 13, 2014 - January 17, 2014

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil prices crept up last week after falling steeply for the two weeks prior. The EIA reported a decline in crude stocks of 7.66 million barrels, almost six times larger than projected. Furthermore, domestic demand for crude product rose, led by a surge in distillate fuels, which includes heating oil. Gas prices jumped on Monday and Tuesday in anticipation of a massive gas storage withdrawal report from the EIA and a cold weather front in the eastern half of the U.S. in late January. Gas prices fluctuated slightly the rest of the week due to changing weather forecasts and were rising as of Tuesday morning.

To view the complete Market Summary, click here.

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