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November 4th, 2013

Market Summary for the Week of October 28 - November 1, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil futures rose on Monday before falling for four straight days to end the week, and the prompt-month contract settled below $95 per barrel for the first time since June. The spread between Brent and WTI increased to a near 7-month high on Wednesday as a loss of Libyan production supported Brent prices, while another large weekly stockpile increase in the US weighed heavily on WTI. Natural gas futures fell every day last week, erasing more than six percent from the 12-month strip during the course of the week.  Bearish factors included a larger-than-expected stockpile increase and weather forecasts showing warmer-than-normal weather for the Northeast and Midwest through the middle of November.

To view the complete Market Summary, click here. 

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