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September 28th, 2015

Market Summary for the Week of September 21 - September 25, 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%

WTI inched upward last week, as did Brent. Concerns about reduced investment in crude production pushed prices up despite a slump in worldwide equities, which could reduce global demand. Natural gas futures capped a second week of declines as normal to above-average temperatures are expected to limit demand. Last week’s storage report was both above average and larger than last year’s respective gain, adding additional downward pressure to prices.

To view the complete Market Summary, click here.

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