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June 9th, 2014

Market Summary for the Week of June 2 - 6, 2014

by Meghan Nee and Michelle Tham, Analysts

Synopsis of Last Week's Energy Markets

WTI traded within a very narrow band last week, and prices ended the week very close to where they began. Even the EIA crude oil storage report failed to move the market, despite showing a decline at Cushing, Oklahoma, and a higher-than-projected drop in total US stocks. Natural gas prices rose each day last week on forecasts for above average temperatures across most of the lower 48 states, even though the EIA reported a gain above estimated. The July contract rose 17 cents over the course of the week as injections are predicted to decline from this point forward, given the onset of cooling demand.

To view the complete Market Summary, click here.

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