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August 5th, 2013

Market Summary for the Week of July 29 - August 2, 2013

by Michelle Tham, Director of Analytics

Synopsis of Last Week's Energy Markets

Crude oil was volatile last week, with the prompt-month end-of-day price seeing a range of $4.81. A steep climb over Wednesday and Thursday brought the week to an overall increase as the Commerce Department announced that second quarter GDP grew at a 1.7% annualized rate, which was better than expected. Natural gas fell four out of five days last week, erasing 2013 gains, as forecasts called for a mild August weather and the EIA reported an above-average injection into inventories, coupled with a record high in proven wet natural gas reserves. 

To view the complete Market Summary for the Week July 29 - August 2, click here

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