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August 6th, 2019

Market Summary for the Week of July 29 - August 2, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices dropped 1% last week, as a cut to US interest rates was overshadowed by the threat of additional tariffs in the US-China trade conflict. Bearish sentiment may continue in the short-term. US crude inventories fell for the seventh straight week. Natural gas prices slipped to multi-year lows as demand retreated with the heat. The storage deficit, now at 4.5% compared to the 5-year average, is expected to narrow in the coming weeks.

To view the complete Market Summary, click here.

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