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September 12th, 2018

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

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil and natural gas prices fell last week. Crude declined on large gains in domestic distillate and gasoline stocks, and weakness in emerging economies caused concern about global demand for crude oil. Natural gas prices slipped 5% last week as demand receded with falling temperatures. Domestic production continues to climb and overwhelm concerns over the wide inventory deficit.

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September 5th, 2018

Market Summary for the Week of August 27 - August 31, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices rose for the second straight week after the EIA reported another drop in US crude stocks. Prices are also climbing as Tropical Storm Gordon is headed toward the Gulf Coast, which will impact oil production in the region. Natural gas prices saw little change week-over-week amid lingering summer heat, continued rising production, and a persistent inventory deficit of 19% compared to the 5-year average.

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August 28th, 2018

Market Summary for the Week of August 20 - 24, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices soared last week, snapping a three-week losing streak. A large drop in US crude oil stocks plus a weakening US dollar boosted the crude market, although the trade war with China is keeping a lid on how high crude prices will climb. Natural Gas prices declined 1% last week after a six-week really fueled by concerns over a widening storage deficit. Power burn demand has curbed injections, leaving inventories 20% behind the 5-year average.

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August 21st, 2018

Market Summary for the Week of August 13 - August 17, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices continued its trajectory downward for a third week. International economic sentiment is bearish right now as Turkey is experiencing a currency crisis, while the United States and China continue to add items that will be subjected to import tariffs. Natural gas prices saw little weekly change despite news of a widening storage deficit. Despite record-high production, inventory levels are at the lowest levels in the past five years.

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June 25th, 2018

Market Summary for the Week of June 18 – June 22, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil prices climbed last week, with prompt month WTI jumping 4.6% on Friday alone. Although Saudi Arabia and Russiawere able to convince the other OPEC members to ease the production limits, markets had already factored in additional production from the cartel. Natural gas prices slipped 2.5% last week as forecasts for demand eased across the country with falling temperatures. Inventories remain at a 20% deficit to the 5-year average despite last week’s large storage build.

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