CES Spotlight Blog

  Blog Categories
September 14th, 2015

Market Summary for the Week of September 7 - September 11, 2015

by Meghan Nee and Michelle Tham, Analysts

Synopsis of Last Week's Energy Markets

WTI and Brent both continued to move downward last week, a general trend since late June. Both OPEC and the International 
Energy Agency lowered their 2015 global demand forecasts, and the EIA reported a forecast for a 1 million barrel increase in 
domestic production for 2015 over 2014 estimates. Natural gas prices capped a weekly gain last week on forecasts for lingering 
heat and on speculation that low gas prices will boost demand from electricity generators. Thursday's EIA storage report brought 
news of the largest gain in seven weeks, cutting the deficit to the five-year average levels to 14.2%

Crude oil retreated last week from the climb at the end of August, with the prompt month trading back around the $45 mark. The EIA reported that US output fell to an 11-month low, but global stockpiles are likely to remain high due to additional supply from Iraq and possibly Iran. Natural gas futures rose last week as above-average temperatures are expected across the country through most of September. The EIA estimates that natural gas prices will remain under the $3 mark through November.

To view the complete Market Summary, click here.

Blog Home »