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April 30th, 2013

CES Market Summary for the Week of April 22- 26

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil jumped last week, rallying for four out of five days. A mix of factors caused crude oil to climb.  The G20 nations gave approval for Japan’s domestic stimulus plan, the EIA’s storage report showed a large drop in gasoline inventories, and the Labor Department reported a drop in unemployment applications. Friday snapped a seven-day streak of gains that had started the previous week. Natural gas saw its first weekly drop in ten weeks. After a series of snowstorms throughout late winter and early spring, gas prices are finally retreating as heating season winds down. Gas demand for electricity is projected to be 8 percent lower than last year due to the shift in price.

To view the complete Market Summary for the week April 22 - 26, click here

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