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July 23rd, 2019

Market Summary for the Week of July 15 - July 19, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices fell 7.6% last week as concerns of oversupply and weakening global demand more than offset escalating tensions between the U.S. and Iran. Natural gas prices slipped 8% last week as traders looked past the heat wave to more moderate temperatures. Stocks are 5% below normal levels after the EIA reported the first bullish storage injection of the season.

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July 16th, 2019

Market Summary for the Week of July 8 - July 12, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices rose 4.7% last week, as Tropical Storm Barry disrupted U.S. Gulf of Mexico production and domestic oil inventories reported a steep drop. Natural gas prices also rose 1% last week with support from forecasts for heat waves that could boost electricity demand to meet cooling load. Meanwhile, Hurricane Barry's landfall suppressed regional gas production and demand.

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July 9th, 2019

Market Summary for the Week of July 1 - July 5, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil fell 2% last week, as OPEC’s agreement to extend output cuts were undermined by global demand indicators and concerns of a downturn. Natural gas prices rose 5% last week as forecasts show elevated temperatures that could boost cooling demand and electricity burn. Meanwhile, the storage deficit continued to narrow and now sits at just 6% below the 5-year average.

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July 2nd, 2019

Market Summary for the Week of June 24 - June 28, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose 2% last week, capping a 9% gain over the course of June on tightening US inventories and continued tensions between the US and Iran. Bullish developments over the weekend add to near-term upward price movement. Natural gas prices rose 6% last week, rebounding from 3-year lows as forecasts for higher temperatures and a corresponding increase in electricity demand support the market. LNG exports continue to rise.

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June 25th, 2019

Market Summary for the Week of June 17 - June 21, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil jumped 9% last week, the largest increase in over 2 years, as tensions between the US and Iran escalated. In contrast, natural gas prices slipped 8% last week, setting new 3-year lows as inventories continue to refill rapidly. Strong production has weighed on prices despite rising exports.

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