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October 30th, 2018

Market Summary for the Week of October 22 - October 26, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil contracts lost about 2% last week. Saudi Arabia and Russia have ramped up production in advance of the lost production from Iran, and the October drop in the equities market is pulling down crude prices also. Natural gas prices fell by 2% last week after five straight weekly gains. Weather forecasts turned mild, signaling easing demand going into November.

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October 23rd, 2018

Market Summary for the Week of October 15 - October 19, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil fell for a second straight week. US crude stocks of have gained for the past month while refineries are performing maintenance, offsetting the market impacts of the looming economic sanctions against Iran. Natural gas prices rose for the fifth consecutive week as traders looked ahead to colder weather and rising heating demand. Domestic inventories remain 16% below typical levels.

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October 16th, 2018

Market Summary for the Week of October 8 - October 12, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude prices finally fell last week on a combination of factors. A slump in equities brought down commodities, while domestic crude storage gained. However, relations with Saudi Arabia are strained by the disappearance of Jamal Khashoggi, which could boost oil prices. Natural gas prices saw little weekly change as power outages in the wake of Hurricane Michael weighed on markets. This comes despite increasing concern over low storage levels going into the winter season.

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October 9th, 2018

Market Summary for the Week of October 1 - October 5, 2018

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Over the past four weeks, crude oil contracts for the next twelve months have gained 10-15%. Markets overlooked bearish factors last week, instead continuing to anticipate the loss of supply due to the US sanctions against Iran. Natural gas prices rose 4% last week with forecasted gains in seasonal demand. Storage remains on track to end the injection season at 15-year lows despite a surprisingly strong weekly build.

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October 2nd, 2018

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

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil prices climbed 4% for contracts in the next twelve months; distillate products saw an even steeper jump. The OPEC+ group decided not to release additional crude as the November 4 deadline for the re-imposition of Iran sanctions looms. Natural gas prices were volatile last week but ultimately saw modest week-over-week gains. Near-term contracts have risen with inventories and are poised to end the injection season 16% below 5-year average levels.

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