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April 9th, 2019

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

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose 5% last week, hitting the highest levels since November, on economic optimism and the potential for additional supply shortages. Natural gas prices saw little week-over-week change. A strong start to the injection season weighed on prices early in the week, but forecasts for a late-spring demand bump helped prices recover on Friday.

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April 2nd, 2019

Market Summary for the Week of March 25 - March 29, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose 2% last week, with WTI settling over $60 per barrel for first time since November. OPEC cuts and falling domestic rig counts signaled tightening supplies. Natural gas prices declined 3% last week after what is expected to be the last withdrawal of this winter. Rising temperatures and sustained production growth could chip away at the 550-Bcf storage deficit.

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March 26th, 2019

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

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose less than 1% last week. End-of-week concerns for slowing economic growth tempered bullish news regarding OPEC's production cuts and tightening US supplies. Natural gas prices slumped 2% last week amid mild weather and waning demand. Inventories remain far below typical levels, but strong production continues to weigh on pricing.

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March 12th, 2019

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

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose 0.5% last week as concerns over key economic indicators clashed with signs of growing demand for refined products. Traders have been playing a waiting game as resolution to the US-China trade war may come by the end of the month. Natural gas prices were also relatively flat week-over-week following three consecutive weekly gains. Despite a widening storage deficit, the recent market rally stalled as demand recedes ahead of the shoulder season.

 

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March 5th, 2019

Market Summary for the Week of February 25 - March 1, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil ended a volatile week down 3% as comments from President Trump and depressed US economic data offset news of further OPEC production cuts in February and a bullish inventory report from the EIA. In contrast, natural gas prices gained 4% last week fueled by forecasts for cold weather and a widening inventory deficit, but strong output and the nearing end of winter have alleviated fears for a serious supply shortage.

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