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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.

To view the complete Market Summary, click here.

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