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January 8th, 2019

Market Summary for the Week of December 31, 2018 - January 4, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices broke a three-week streak of losses; contracts for 2019 gained 6-7% over the week. Analysts are estimating that OPEC members had already started cutting production in December, ahead of the new obligations which started in January. Natural gas futures slipped 7.8% in the first week of the new year. This follows two bearish inventory reports and forecasts for mild weather that could continue to erode the now-17% storage deficit.

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January 2nd, 2019

Market Summary for the Week of December 24 - December 28, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil wrapped up the year with another week of losses. Prompt month WTI saw a net loss of 25% for the year as OPEC and Russia veered from the production cut agreement for the second half of 2018. Natural gas prices slipped 11% last week as traders looked ahead to mild temperatures that could limit heating demand. U.S. production remains strong, but inventories are 19% below the 5-year average.

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December 18th, 2018

Market Summary for the Week of December 10 - December 14, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude fell slightly last week but generally held in the range of the past 3 weeks. High domestic production rates are offsetting the market impact of the renewed agreement between the OPEC+ group. Natural gas prices for the remainder of this winter fell as much as 15% last week. Mild forecasts mollified fears that strong heating demand might strain inventories, which are 20% below the 5-year average.

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December 11th, 2018

Market Summary for the Week of December 3 - December 7, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices climbed for a second straight week. OPEC and Russia agreed to cut production for the first half of 2019, boosting prices. However, the US-China trade war continues to keep a cap on prices. Natural gas prices slipped 2.5% this week, halting November’s rally as forecasts showed mild temperatures that could moderate heating demand. Strong output weighed on prices despite low inventory levels.

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