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September 16th, 2013

Market Summary for the Week of September 9 - 13, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

WTI and crude oil retreated last week as the threat of immediate military action against Syria eased. Russia submitted a plan for Syria to catalog and destroy its chemical arsenal with oversight from international inspectors, weakening President Obama's case for airstrike. On the bullish side, crude stockpiles at Cushing, Oklahoma, continue to fall as refineries increase production rates. Natural gas saw a weekly gain last week as a warm front moved through the eastern half of the US last week, while lingering heat is projected for the central US this week. Both weather systems will increase demand for the power plant fuel late in the cooling season, resulting in lower injections into inventory ahead of the heating season.

To view the complete Market Summary, click here

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