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March 30th, 2015

Market Summary for the Week of March 23 - 27, 2015

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 rose last week as Saudi Arabia and other Middle Eastern states were drawn into the civil war in Yemen. Domestically, crude oil storage levels and production continued to grow. Natural gas futures fell last week on forecasts for average to above-average temperatures across the lower forty-eight states at the start of April, and on news of the first storage injection of the year.

To view the complete Market Summary, click here.

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