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December 4th, 2018

Market Summary for the Week of November 26 - November 30, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices saw a slight uptick for the first week since early October. WTI contracts for delivery during 2019 slid 30% between October 3 and the end of November but $50 seems to be a support level for the prompt month, especially ahead of an OPEC+Russia meeting later this week. Natural gas prices rose 6% last week even as forecasts eased and production reached new highs. Concerns linger that with wide storage deficit, any winter cold could further strain inventories.

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November 27th, 2018

Market Summary for the Week of November 19 - November 23, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Last week saw crude oil prices fall to lows of more than a year. Global supplies are increasing due to high rates from the world’s top 3 producers, while projections for crude demand in 2019 have recently been revised downward. Natural gas prices saw modest gains last week. Inventories are 19% below average after an uncharacteristically strong withdrawal, and cold over the holiday weekend could impact next week’s storage report.

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November 20th, 2018

Market Summary for the Week of November 12 - November 16, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices fell again; by the end of the week, the prompt month had fallen 26% since a peak on October 3rd. OPEC and Russia released production numbers showing large increases from September, offsetting lost production from Iran. On the other hand, natural gas prices soared last week as November cold threatened to strain inventories that are already at 15-year seasonal lows. December futures saw a 15% weekly gain.

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November 13th, 2018

Market Summary for the Week of November 5 - November 9, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices have plummeted since early October as Russia, Saudi Arabia, and the US are all producing crude at historically high levels. In the past 5 weeks, NYMEX-traded WTI has eliminated the gains made since the start of 2018. Natural gas prices rose by a dramatic 14% last week amid concerns that cold weather could strain gas inventories, which began November at the lowest seasonal levels in more than a dozen years.

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November 6th, 2018

Market Summary for the Week of October 29 - November 2, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices declined for the fourth straight week. Saudi Arabia and Russia continue to ramp up production as sanctions against Iran were reinstated November 4. In addition, eight nations were given waivers to the sanctions. Natural gas prices rose 2% last week and extended those gains in trading Monday morning as forecasts for November cooled, threatening stronger withdrawals from inventories which are already at 15-year lows.

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