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May 12th, 2014

Market Summary for the Week of May 5 - 9, 2014

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil market movement was once again dominated by the EIA storage report last week. Storage numbers for Cushing, Oklahoma and 
for the entire US were both very bullish, causing a jump in prices on Wednesday. Natural gas prices climbed at the start of the week due to unseasonal weather forecasts, but dropped to a three-week low at the end of the week on news of a larger than expected storage injection nd forecasts for more seasonal temperatures.
Crude oil market movement was once again dominated by the EIA storage report last week. Storage numbers for Cushing, Oklahoma and for the entire US were both very bullish, causing a jump in prices on Wednesday. Natural gas prices climbed at the start of the week due to unseasonal weather forecasts, but dropped to a three-week low at the end of the week on news of a larger than expected storage injection and forecasts for more seasonal temperatures.

To view the complete Market Summary, click here.

 

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