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August 7th, 2012

Market Summary Released for August 7, 2012

by Michelle Tham, Director of Analytics

Oil vacillated last week and looked poised for an overall decline, but a large bounce on Friday brought the weekly change into a net positive. Instability in the euro region was bearish on crude, but a strong jobs report from the Labor Department gave markets a boost at the tail of the week. Natural gas followed a different trend than crude last week. Prices declined four out of five days as forecasts for August called for moderating temperatures, an indication that the US will probably go into the shoulder season with a surplus storage relative to historical levels. 

For the entire CES Market Summary, please see:


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