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November 13th, 2012

Market Summary Released for November 12, 2012

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil saw a small overall increase last week despite a very bearish Wednesday after the re-election of President Obama. Oil rose the other four days of the week as Hurricane Sandy recovery efforts continued, including the restarting of most of the East Coast refineries that had shut down. Furthermore, positive economic numbers boosted crude prices late in the week. Natural gas prices saw a small decline last week even as a Nor’easter passed over the East Coast in the wake of Hurricane Sandy. Forecasts for above-normal temperatures for mid-tolate November are keeping an upper cap on gas prices.

For the complete Market Summary: November 12, 2102.

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