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February 26th, 2019

Market Summary for the Week of February 18 - February 22, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices climbed 3% over the course of the week to the highest levels in the past three months. A rise in US crude oil production to a record 12 million barrels per day could offset neither OPEC's progress in its new production cuts nor optimism over US-China trade talks. Natural gas prices rose 4% last week with lower-than-average temperatures on the horizon for much of the country. Production is strong but inventories remain 18% below the 5-year average due to high demand.

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February 20th, 2019

Market Summary for the Week of February 11 - February 15, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose to the highest levels in 2019 to date as optimism over a possible US-China trade deal raised hopes for demand. Saudi Arabia announced further production cuts as Russia indicated its intention to comply with its own promised production cuts. Natural gas prices rose 2% last week as but remain near historical lows. Winter’s cold has yet to draw inventories to critical lows, which has weighed on prices as spring approaches.

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February 12th, 2019

Market Summary for the Week of February 4 - February 8, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil fell last week. Prices had gained 18% in January as Saudi Arabia began cutting production again and the US imposed sanctions on a Venezuela’s oil. However, a weakening growth forecast for the EU and the US’s ongoing trade war with China are projected to impact crude oil demand. Natural gas futures slid 6% last week. Tepid demand weighed on markets even as the EIA reported the largest storage withdrawal of the season to date. Inventories are now 18% below the 5-year average.

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February 5th, 2019

Market Summary for the Week of January 28 - February 1, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices inched up last week as the OPEC+ group showed renewed commitment to its production cuts and US refiners were uncertain as to whether they could receive oil from Venezuela under new sanctions announced last week. Natural gas prices slipped to a 6-month low last Friday as near-term forecasts show temperatures easing across the Eastern U.S. Inventories remain 13% below average but are expected to recover in the coming weeks.

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January 29th, 2019

Market Summary for the Week of January 21 - January 25, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil futures were steady last week. Bearish projections for global economic growth continue to weigh on prices, but political instability in Venezuela could lead to US sanctions against its oil exports. Natural gas futures declined 9% last week amid uncertainty over just how severe the coming cold snap could be. Inventories are relatively low, but near-record production continues to weigh on markets.

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