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April 16th, 2018

Market Summary for Week of April 9 - 13, 2018

by Kelsey Berger and Michelle Tham, Energy 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 climbed last week as western powers weighed their responses to Syrian President Bashar al-Assad’s chemical gas attack on its own citizens on April 7. Natural gas prices turned down early last week but recovered when weather forecasts indicated that April’s low temperatures could persist late into the month, sustaining an unseasonable boost in heating demand.

To view the complete Market Summary, click here.

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