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September 23rd, 2013

Market Summary for the Week of September 16 - 20, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil futures moved downward last week as an accord between Russia and the US outlining a diplomatic solution to the Syrian government’s purported use of chemical weapons helped remove some of the geopolitical premium built into the commodity contracts. The near-term contracts were particularly affected; the October WTI contract ended the week down 3.3%. Natural gas futures rose at the start of last week in anticipation of a smaller-than-expected stockpile increase before falling toward the end of the week as weather forecasts predicted milder, more seasonal weather for most of the US to start October. On the whole, the 12-month strip ended the week up nearly 1%.

To view the complete Market Summary, click here.

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