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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.

To view the complete Market Summary, click here.

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