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August 28th, 2012

Market Summary Released

by Tobias Grindal, Energy Analyst

Oil prices were largely unchanged last week. The important factors impacting oil prices last week were concern over whether Germany’s Central Bank would support the European Central Bank’s plan to tackle the region’s sovereign debt crisis, growing violence in Syria, a large crude stockpile drawdown, and the movement of Tropical Storm Isaac toward the Gulf Coast. Natural gas prices fell last week, capping a fifth straight week of declines, as forecasts showed Tropical Storm Isaac might miss key production platforms.

For the entire CES Market Summary, please see: CES Market Summary, August 27,2012

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