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September 30th, 2013

Market Summary for the Week of September 23 - 27, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil saw a third straight week of declines last week. The UN Security Council moved forward with a resolution on the removal of Syria's chemical weapons, eroding the geopolitical premium seen at the height of tensions in early September. Furthermore, exports rebounded from Nigeria and Libya, which had been hampered by vandalism and labor strikes respectively. Natural gas fell early in the week but then partially recovered in the latter half; the 12-month strip saw a 2.4% decline for the week. Forecasts for moderate temperatures leading into October kept prices in check and the EIA reported a larger-than-expected injection into gas stocks. 

To view the complete Market Summary, click here. 

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