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February 1st, 2016

Market Summary for the Week of January 25 - 29, 2016

by Meghan Nee and Michelle Tham, Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices climbed steadily last week, rallying from Tuesday through Friday. Russia hinted at the possibility of collaborating with OPEC to cut production, allowing OPEC to take action while minimizing risk to each member’s market share. Natural gas futures have climbed for the past 8 trading days, as forecasts turned cooler than originally predicted for the start of February. Last week’s storage report showed the largest withdrawal in 11 months.

To view the complete Market Summary, click here.

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January 25th, 2016

Market Summary for the Week of January 18 - 22, 2016

by Meghan Nee and Michelle Tham, Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

WTI and Brent prices rose for the first time in four weeks due to a rally on Thursday and Friday. WTI for March gained over 13% over the two days as investors covered short positions after the lows reached on Wednesday. Natural gas prices rose last week as Winter Storm Jonas was expected to boost heating demand over the weekend. The supply glut continues to grow and above average temperatures are expected to return moving into February, increasing bearish bets on prices.

To view the complete Market Summary, click here.

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