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June 17th, 2013

Market Summary for the Week of June 10 - 14

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Market

Crude oil prices rallied Wednesday through Friday last week on a weak dollar but positive economic indicators from the Commerce Department and Labor Department. The weekly gain occurred despite a very bearish storage report from the EIA, along with a decline in gasoline demand from the previous week. Natural gas fell for the third week in a row amid forecasts for reduced air-conditioning demand, which relies on natural gas as fuel for electricity generation. However, revised forecasts for June are now projecting above-normal temperatures for late June.

To view the complete Market Summary for the Week June 10 - 14, click here 

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