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June 18th, 2019

Market Summary for the Week of June 10 - June 14, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil dropped 3% last week, as concerns of falling demand and growing US stockpiles overshadowed escalating conflict in the Middle East. US crude oil inventories are at the highest levels since July 2017. Meanwhile, gas prices rose 2% last week amid forecasts for rising temperatures that could boost cooling demand and gas power burn. This halted the 3-week slide that brought prices to 3-year lows in recent weeks.

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June 11th, 2019

Market Summary for the Week of June 3 - June 7, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil climbed 1-2% last week, rebounding from a midweek low on OPEC supply pledges and word of progress towards a deal between Mexico and the US. US total petroleum stockpiles grew by the most in 30 years. Meanwhile, natural gas prices fell for a third consecutive week, setting new 3-year lows as storage continued to refill faster than expected. Inventories are now 11% below the 5-year average according to the EIA.

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June 4th, 2019

Market Summary for the Week of May 27 - May 31, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil fell 9% last week, capping a monthly loss of 16%, as multiple trade conflict concerns and a bearish EIA report overwhelmed tensions in the Middle East. Natural gas prices slipped 6% last week as production continues to outweigh rising exports and seasonal gains in demand. The storage deficit has fallen to 5% vs. the 5-year average and may continue to narrow in the coming weeks.

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May 29th, 2019

Market Summary for the Week of May 20 - May 24, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil dropped 5-7% last week as concerns over the US-China trade war sent equities tumbling and crude along with them for the worst week of losses this year. Domestic stockpiles add to the bearish pressure, sitting at the highest levels since July 2017.Natural gas prices slipped 2% last week as traders anticipated another strong storage injection. High production has helped to close the lingering storage deficit, but rising demand could curb coming injections as temperatures rise.

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May 21st, 2019

Market Summary for the Week of May 13 - May 17, 2019

by Kelsey Berger and Michelle Tham, Energy Analysts

Synopsis of Last Week's Energy Markets

Crude oil rose 2% last week as tensions escalated over the renewal of US sanctions on Iran crude oil, with small bouts of conflict raising concerns of further escalation and tightened near-term supply expectations. Natural gas prices rose for the fourth week in a row as strong exports and rising temperatures point to higher demand. This could curb storage injections, which have been larger than normal since the end of winter.

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