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November 2nd, 2015

Market Summary for the Week of October 26 - October 30, 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%

Crude prices climbed for the first week in three, with a big jump in prices on Wednesday. Large drops in the domestic stock levels of distillate and gasoline were bullish on crude, although the gain in crude stocks was in line with most projections. Natural gas futures capped the largest monthly decline of 2015 in October. As warm weather continues to limit heating demand, the EIA’s next storage report will likely show that inventories have surpassed the record level reached in November 2012.

To view the complete Market Summary, click here.

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