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August 14th, 2012

Market Summary Released for August 14, 2012

by Tobias Grindal, Energy Analyst

Oil fluctuated last week, ending the week slightly higher than where it started, as market participants speculated whether the Federal Reserve and the European Central Bank would take additional efforts to boost growth in the United States and Europe. Tension between the Syrian government and rebel groups continued to escalate, and the Prime Minister of embattled President Bashar al-Assad’s government defected to Jordan.  Near-term gas futures moved downward last week, while outer-term contracts rose.  Futures climbed above $3 per MMBTU on Thursday after the Energy Department reported a smaller-than-normal stockpile increase, before sliding to one-month low on Friday following forecasts for cooler weather.

For the entire CES Market Summary, please see:http://competitive-energy.com/market-summary/CESMarketSummary_081312.pdf

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