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July 22nd, 2013

Market Summary for the Week of July 15 - 19, 2013

by Michelle Tham, Director of Analytics

WTI crude saw a fourth consecutive week of gains last week as the transport of crude oil to refineries increased. The prompt month climbed 2% over the week, while Brent crude remained steady. On Friday, WTI prompt exceeded Brent in intraday trading for the first time since August 2010. Natural gas rose and fell with weather forecasts calling for unseasonable warmth followed by moderating temperatures. However, the biggest price movement last week was a one-day jump of 5% on Thursday after the EIA storage report showed a net gain that was less than the five-year average injection, breaking a six-week streak in above-average injections.

To view the complete Market Summary for the Week July 15 - 19, click here

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