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October 21st, 2013

Market Summary for the Week of October 14 - October 18, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil futures ended the week down despite congressional leaders reaching an agreement on Wednesday to end the government shutdown and extend the debt limit.  While the EIA was unable to release its weekly storage report because of the government closure, the American Petroleum Institute reported a supply gain of nearly six million barrels the previous week. Natural gas futures fell three out of five days last week and the 12-month strip ended down nearly one percent. Despite the EIA’s closure, many in the market believed that gas inventories experienced another strong build over the previous week. The median Bloomberg analyst estimate was that stockpiles increased by 80 billion cubic feet (Bcf).

To view the complete Market Summary, click here.

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