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September 5th, 2012

CES Market Summary Released for September 5, 2012

by Michelle Tham, Director of Analytics

Both crude oil and natural gas saw very little movement overall last week, although heating oil advanced just over 1%. Prompt month crude has bounced around the $96 per barrel range for two weeks. What began last week as Tropical Storm Isaac strengthened to hurricane status. Oil and gas production facilities in the Gulf of Mexico avoided serious damage, although production was temporarily shut down due to evacuations. Natural gas saw what may be the only bearish EIA storage report of this injection season, but this was tempered by a forecast for above-normal cooling demand through early September.

For the entire CES Market Summary, please see: CES Market Summary, September 4, 2012.

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