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October 22nd, 2012

Market Summary Released for October 22, 2012

by Tobias Grindal, Energy Analyst

Synopsis of Last Week's Energy Markets

Crude oil futures were very stable most of last week, with the prompt-month contract changing less than 25 cents from Monday through Thursday, before tumbling on Friday on disappointing news out of the E.U. The combination of an above-expectations increase in the number of applications for unemployment benefits and another robust stockpile increase offset the bullish news that total petroleum demand in the U.S. rose last week. Natural gas futures fell early in the week on forecasts for above-normal temperatures for most of the lower 48 states before rising later in the week to a 10-month high as near-term forecasts were modified to show below-normal temperatures, particularly in the eastern U.S.

For the complete CES Market Summary, please see CES Market Summary for Oct 22, 2012


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