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May 27th, 2014

Market Summary for the Week of May 19 - 23, 2014

by Meghan Nee and Michelle Tham, Analysts

Synopsis of Last Week's Energy Markets

WTI increased for third week in a row. Once again the EIA storage report was the controlling factor; last week’s report showed a drop for both total US stocks and stocks at Cushing, Oklahoma. Brent also gained as violence in eastern Ukraine intensified ahead of elections over the weekend. Natural gas prices saw a third week of declines. Although near-term forecasts call for above-normal temperatures, putting pressure on the power plant fuel, the EIA gas storage report was bearish. The net injection was more than both projections and the five-year average.

To view the complete Market Summary, click here.

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