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January 6th, 2014

Market Summary for the Week of December 30, 2013 - January 3, 2014

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil futures fell last week, breaking a two-week streak of gains. Prices had risen along with declining crude oil stocks, but analysts believed that the rally was overdone by the start of last week. In addition, an increase in the strength of the dollar and speculation that the Federal Reserve may taper bond purchases both kept downward pressure on oil prices. Natural gas futures fluctuated over the past week but ended downward, continuing last week’s trend of declining prices. A predicted cold front in early January was a bullish factor, while bearish factors included warmer weather forecasts in mid-January and a lower-than-expected withdrawal over the previous week.

To view the complete Market Summary, click here.

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