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November 19th, 2019

Market Summary for the Week of November 11 - November 15, 2019

by Kelsey Berger, Associate Manager of Analytics

Synopsis of Last Week's Energy Markets

WTI Crude prices ($56.25/BBL on 11/15) were down 1.7% from the prior week. Price factors include rising U.S. crude inventories, as well as the continued trade war that has contributed to oil prices declining since their peak in April. Natural gas prices fell 3% last week. After an initial surge in natural gas prices early in the week due to a cold snap, futures prices dropped back down as forecasts predict warmer temperatures moving into December.

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November 12th, 2019

Market Summary for the Week of November 4 - November 8, 2019

by Kelsey Berger, Associate Manager of Analytics

Synopsis of Last Week's Energy Markets

Friday prices ($57.24/BBL) were up 1.9% from the prior week ($56.54/BBL), establishing a new one month high. This comes as OPEC producers, meeting next month, are expected to maintain existing production cuts. Natural gas prices were up and down last week, settling at $2.791/MMBtu on Friday, as weather forecasts fluctuated between cold and colder. Storage inventories remained above the 5-year average, though the gap narrowed to a 0.8% variance.

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November 5th, 2019

Market Summary for the Week of October 28 - November 1, 2019

by Kelsey Berger, Associate Manager of Analytics

Synopsis of Last Week's Energy Markets

Prices are down 3.7% from the prior week, ending the month on a modest monthly increase. Factors for the recent decrease include troublesome factory data out of China as well as pessimistic sentiments revolving the U.S. China trade war resolution. Natural gas prices rose 18% to $2.71/MMBtu due to an early November cold snap. Inventories exceeded the 5-year average by 52 Bcf, though production is down slightly from record highs.

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October 29th, 2019

Market Summary for the Week of October 21 - October 25, 2019

by Kelsey Berger, Associate Manager of Analytics

Synopsis of Last Week's Energy Markets

Crude prices climbed 4.5-5.5% last week on bullish domestic fundamentals data and optimism out of the White House to complete an initial trade deal with China. OPEC indicated that further production cuts may be discussed at meetings in December. Natural gas prices slid 1% to $2.30/MMbtu despite forecasts for falling temperatures. Inventories are poised to begin the winter at a surplus to the average as production reaches new record highs.

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October 22nd, 2019

Market Summary for the Week of October 14 - 18, 2019

by Kelsey Berger, Associate Manager of Analytics

Synopsis of Last Week's Energy Markets

Crude prices fell 2% last week as lower demand outlooks and skepticism over an initial trade deal between the U.S. and China dominated sentiment. Meanwhile, natural gas prices rose 2% last week as forecasts pointed to cooler temperatures that could boost heating demand in the coming weeks. This came despite another strong storage injection that left inventories higher than typical levels for the first time in years.

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