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September 9th, 2013

Market Summary for the Week of September 2 - 6, 2013

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

WTI and Brent futures both increased in a holiday-shortened week as tension around Syria continued to escalate, the EIA reported a significant drawdown of oil supplies in Cushing, Oklahoma, and a disappointing jobs report led many to believe that the Fed will delay tapering its bond buying program. Natural gas futures rose at the start of the week as several storms in the Caribbean threatened to develop into tropical systems, which could potentially impact gas production in the Gulf Coast, before falling on Thursday and Friday after the EIA reported a larger-than-expected stockpile increase. For the week, the 12-month strip ended down 1.6 %.

To view the complete Market Summary, click here.

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