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October 8th, 2019

Market Summary for the Week of September 30 - October 4, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices fell 5% last week following slumping equities markets. U.S. inventories increased for the third straight week, as Saudi oil production recovered fully after drone attacks in September. Upcoming U.S.-China trade talks may influence near term pricing. Natural gas prices slipped 2% last week as U.S. production set new records. Gas in storage is now in line with typical levels ahead of the start withdrawal season, expected to begin next month.

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October 1st, 2019

Market Summary for the Week of September 23 - September 27

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices fell 4% last week as production in Saudi Arabia recovered faster than expected following major drone strikes, and U.S. comments on the trade conflict with China clouded prospects for further talks.Natural gas slipped 5% last week as production swelled with new transportation out of the Permian Basin in western Texas. Inventory levels are nearing the 5-year average at just a 1.5% deficit.

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September 24th, 2019

Market Summary for the Week of September 16 - September 20, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices jumped 6-7% last week in the aftermath of drone attacks on Saudi oil production facilities, as production recovery and responses to the attacks came into focus. A tropical storm hitting the Gulf Coast slowed activity at the largest refineries and crude oil terminals in the US. Meanwhile, natural gas prices slipped 3% as traders looked ahead to the end of summer. The U.S. storage deficit fell to 75 Bcf last week, just 2% short of the 5-year average.

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September 17th, 2019

Market Summary for the Week of September 9 - September 13, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices fell 3% last week as changes in the US stance on Iran stood out, however weekend attacks on Saudi oil fields promise near term price spikes and the potential for longer term increases as US-Iran tensions re-escalate. Natural gas prices jumped 5% this week as late-summer heat boosted cooling demand at a time when overall demand is usually weaker. Domestic inventories are currently 2.5% below the 5-year average.

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September 10th, 2019

Market Summary for the Week of September 2 - September 6, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices rose 2-3% last week, as developments in the US-China trade conflict and further sanctions on Iran overshadowed continued concerns for future demand. US inventories fell to the lowest levels in eight months. Natural gas prices surged 9% last week as forecasts for September show hot weather across most of the country. The gains came despite a continually narrowing storage deficit, now below 3% vs the 5-year average.

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