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June 10th, 2013

Market Summary for the Week of June 3 - 7

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Movement in both the crude oil and natural gas markets was dominated by the storage reports from the EIA last week. The crude oil report was very bullish for crude, with an unexpected drop of 6 million barrels the previous week. Crude prices rallied for the latter half of the week as a result. Natural gas saw the converse. The EIA report showed a larger-than-projected gain in gas stocks. Despite weather forecasts for increased air conditioning demand for the central US in mid-June, a large tumble on Thursday defined the week.

To view the complete Market Summary for the week June 3 - 7, click here

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