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October 7th, 2013

Market Summary for the Week of September 30 - October 4, 2013

by Tobias Grindal, Energy Analyst

Crude oil futures fell three out of five days last week largely due to the partial US government shutdown, but the 12-month strip ended the week up 1.4% after TransCanada announced the southern portion of its Keystone pipeline expansion would be completed by the end of October and the threat of Tropical Storm Karen forced several oil production facilities in the Gulf Coast to evacuate all non-essential personnel. Natural gas futures tumbled last week as cooler weather across the US reduced demand for the power-plant fuel, resulting in an a larger-than-expected stockpile increase. Tropical Storm Karen was bullish for prices later in the week as several gas operators in the Gulf Coast curtailed production as the storm approached the region.

To view the complete Market Summary, click here.

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