Newsletter

Capitol Area Energy, Inc.
,
October 3, 2008
David Babin
NATURAL GAS & ELECTRICITY 5105 Pryor Lane

Austin, Texas 78734
Phone 512-266-4710
NATURAL GAS Fax 512-266-4712
Natural gas futures for November on the NYMEX tumbled $ 0.523 lower yesterday to settle at www.capitolareaenergy.com
$ 6.835 per MMBtu, falling for a 3rd straight day its lowest price in almost a year as investors
flee commodities on concern a widening financial crisis will further slow the economy, cutting NATURAL GAS PRICES
energy demand. The intra-day low was the lowest price since October 2007. Energy NYMEX Last Change
commodities fell Monday as the DJIA dropped below 10,000 for the time since October 2004,
driven lower by financial woes in Europe and concerns that the ill-advised $ 850 billion Wall November 08 6.84 -0.52
Street bailout will do nothing to solve the problem. A financial meltdown is cutting demand 03 Month Strip 7.13 -0.50
for energy commodities and sending investors into perceived safer havens, such as gold and 06 Month Strip 7.26 -0.46
Treasury notes, analysts said. Forecasts of mild fall weather across much of the nation over
12 Month Strip 7.45 -0.41
the next 2 weeks is also placing downward pressure on prices. The NWS is predicting normal
temperatures across the eastern half of the US for next week. Last week, the EIA reported a 18 Month Strip 7.78 -0.37
storage injection of 87 Bcf, more than expected, compared to an injection of 62 Bcf a year
ago. The report showed that total storage levels of 3.11 Tcf are now 50 Bcf above the 5-year
average. For this week, look for an injection of about 70 to 80 Bcf. For this week, major SEPT. 2008 GAS PRICES
resistance is seen at $ 9.430, with minor at $ 6.955, while major support is seen at $ 5.250
and minor at $ 6.820. Point Price
NYMEX 7.472
NYMEX HISTORICAL NATURAL GAS PRICES Houston Ship Channel 7.27
2005 2006 2007 2008 Waha Hub 4.92
15.00
EIA GAS STORAGE
10.00
Region Bcf Change
5.00 East 1855 51
0.00 West 423 12

J F M A M J J A S O N D
Prod 832 24
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
Total 3110 87
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 ◄ LINKS ►
If you are interested in receiving
electricity bids, simply complete
our Letter of Authorization and
fax it back to 512-266-4712.
Oil Rises for First Time in Five Days on Rate Cut Speculation Click Here!
By Grant Smith (Bloomberg) -- Crude oil rose for the first time in five days as an interest-rate
cut in Australia triggered speculation that other central banks will ease policy to shore up LETTER OF AUTHORIZATION
economic growth. Oil also rose on speculation OPEC may trim output. The group, due to
review production targets in December, will take `àppropriate measures'' to stabilize If you are currently under
international markets, President Chakib Khelil said yesterday. It pared some of those gains as contract and would like
the U.K. government weighed a recovery plan for banks. ``We'll see more commitment from notification of natural gas or
central banks that will help the market in the short term,'' said Hannes Loacker, an analyst at electricity rates, please sign up
Raiffeisen Zentralbank Oesterreich in Vienna. `Ìf prices fall to $80, the possibility of OPEC to receive future prices.
cutting before its December meeting increases.'' Crude oil for November delivery jumped as Click Here!
much as $3.27, or 3.7 percent, to $91.05 a barrel in electronic trading, and was at $89.50 at NATURAL GAS &
9:37 a.m. London time on the New York Mercantile Exchange. Crude oil futures have declined ELECTRICITY SIGN UP
38 percent from the record $147.27 reached July 11. Yesterday, crude futures fell $6.07 to
settle at $87.81 a barrel in New York. The contract touched $87.56, the lowest since Feb. 7,
MCPE AVERAGE
as the dollar rose against the euro, while OPEC chief Khelil said the price slide will continue
next year. Arjun Murti, the Goldman Sachs Group Inc. analyst who predicted a crude ``super ERCOT Ave Change
spike'' in March 2005, said there is a ``downside'' risk to his forecast that oil may rise to Houston 52.37 16.45
Goldman's forecast of $120 oil in the fourth-quarter.
North 45.47 11.42
West 45.84 11.69
To remove your name for our mailing list, please click here. South 50.32 14.95
Questions or comments? E-mail us at newsletter@capitolareaenergy.com
Capitol Area Energy, Inc.,
October 10, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for November on the NYMEX rose $ 0.153 yesterday to settle at $ 6.688 www.capitolareaenergy.com
per MMBtu, as governments in Europe, US and Asia took measures to support banks and
restore confidence in economies and stock markets rose across the world. Natural gas, crude NATURAL GAS PRICES
and other commodities advanced after the UK provided $ 64 billion of capital to its banks and NYMEX Last Change
the Federal Reserve said it will lend unlimited dollar funds to financial institutions. Natural
gas futures have dropped 51% from a 30-month intra-day high of $ 13.694 on July 2nd. It November 08 6.69 0.15
plunged 11% last week. Stocks rallied worldwide as MSCI World Index rebounded from its 03 Month Strip 7.02 0.15
worst week on record, and the euro rose the most in three weeks against the dollar after the 06 Month Strip 7.15 0.14
banks worked to boost the financial system. Morgan Stanley climbed as much as 97% after
12 Month Strip 7.32 0.13
the firm sealed its $ 9 billion investment from Mitsubishi UFJ Financial Group Inc. Industrial
and commercial demand together accounted for 9.64 Tcf, or 42%, of natural gas 18 Month Strip 7.63 0.12
consumption in the US last year. Last week, the EIA reported a storage injection of 88 Bcf,
somewhat more than expected, compared to an injection of 68 Bcf a year ago. The report
showed that total storage levels of 3.198 Tcf are now 69 Bcf above the 5-year average. For
this week, look for an injection of about 70 to 80 Bcf. For this week, look for an injection of OCT. 2008 GAS PRICES
about 60 Bcf to 70 Bcf. For this week, major resistance is seen at $ 9.130, with minor at $ Point Price
6.745, while major support is seen at $ 5.250 and minor at $ 6.530.
NYMEX 7.472
Houston Ship Channel 7.27
NYMEX HISTORICAL NATURAL GAS PRICES Waha Hub 4.92
2005 2006 2007 2008
EIA GAS STORAGE

15.00
Region Bcf Change
10.00 East 1899 44
5.00 West 432 9

Prod 867 35
0.00
Total 3198 88
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17 ◄ LINKS ►
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 If you are interested in receiving
fax it back to 512-266-4712.
Nana Getting Shear, More Possible Development Click Here!
LETTER OF AUTHORIZATION
By AccuWeather Meteorologist Eric Reese - As of 5:00 a.m. EDT, Nana was located near 16.6
north and 39.3 west or about 1,015 miles west of the Cape Verde Islands. The storm is
If you are currently under
moving toward the west-northwest at about 7 mph, with this motion expected to continue over
contract and would like
the next couple of days. Maximum-sustained winds are near 40 mph with higher gusts, while notification of natural gas or
the estimated central pressure is 1005 mb or 29.68 inches. Strong, westerly shear across electricity rates, please sign up
Nana has completely exposed the center of circulation and this shear is expected to weaken to receive future prices.
the storm over the next 24 hours, with Nana likely becoming a remnant low within the next Click Here!
day or two. Elsewhere in the Atlantic Basin, a tropical wave is located in the eastern NATURAL GAS &
Caribbean along 69 west is causing numerous showers and locally heavy thunderstorms over ELECTRICITY SIGN UP
the Lesser Antilles northward into Puerto Rico. Lessening wind shear will allow this wave to
become better organized on Monday. It may develop into a tropical depression within the next
12-24 hours. Wind shear could pick back up in the path of this feature on Tuesday and MCPE AVERAGE
Wednesday across the northern Caribbean, so there may only be a small window of ERCOT Ave Change
opportunity for strengthening. Regardless of whether this feature becomes a depression or Houston 151.26 99.07
even a tropical storm, it will bring flooding rain to the northern Caribbean including Puerto North 109.04 80.91
Rico and perhaps Hispaniola over the next several days as it treks slowly to the northwest.
West 111.28 82.57
October 17, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for November on the NYMEX rose $ 0.083 to settle at $ 6.786 per MMBtu, www.capitolareaenergy.com
capping their biggest weekly gain in four months as utilities and industrial users sought
supplies before demand picks up with cold weather. Below-normal temperatures are forecast NATURAL GAS PRICES
from Texas to Massachusetts late this week, according to the 14-day outlook. Utilities and NYMEX Last Change
electricity generators are locking in these lower prices. Natural gas prices gained 3.8% last
week, the biggest gain since the week ended June 6th. Prices declined in the previous three November 08 6.74 -0.05
weeks, including an 11% drop the prior week, on concern demand would falter amid a 03 Month Strip 6.98 -0.08
slowing economy and the credit crisis. Forecasters are saying below-normal temperatures for 06 Month Strip 7.06 -0.08
November. Temperatures are expected to dip in Chicago starting this weekend with the
overnight lows dipping to freezing. The average low is about 42 degrees. Natural gas has
declined 50% from a 30-month closing high of $ 13.577 on July 3rd. Prices from last 18 Month Strip 7.45 -0.06
November through March advanced 21% and averaged $ 8.327. Prices a year earlier
averaged $ 7.346. Last week, the EIA reported a storage injection of 79 Bcf, a little lower than
expected, compared to an injection of 49 Bcf a year ago. The report showed that total OCT. 2008 GAS PRICES
storage levels of 3.277 Tcf are now 85 Bcf above the 5-year average. For this week, look for
an injection of 60 to 70 Bcf. For this week, major resistance is seen at $ 8.730, with minor at Point Price
$ 6.860, while major support is seen at $ 5.250 and minor at $ 6.680 NYMEX 7.472
2005 2006 2007 2008
EIA GAS STORAGE

15.00
Region Bcf Change
10.00
East 1945 46
5.00 West 440 8
0.00 Prod 892 25

Total 3277 79
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17 ◄ LINKS ►
fax it back to 512-266-4712.
US OIL INVENTORIES SURVEY: Oil, Gasoline Builds Click Here!
Expected LETTER OF AUTHORIZATION
NEW YORK (Dow Jones)--U.S. crude oil stocks are forecasted to increase in data due
Wednesday from the Department of Energy, according to a Dow Jones Newswires survey of
analysts. The data, put out by the department's Energy Information Administration unit and contract and would like
covering the week ended Oct. 17, are due at 10:35 a.m. EDT Wednesday. Crude oil notification of natural gas or
inventories are expected to rise 2.1 million barrels, according to the mean of eight analysts' electricity rates, please sign up
forecasts. All but one expect a gain, with estimates ranging from a drawdown of 1.2 million to receive future prices.
barrels to a build of 3.75 million barrels. Gasoline inventories are seen growing by 2.4 million Click Here!
barrels, according to the analysts' average. Every analyst surveyed expects an increase, with
NATURAL GAS &
predicted gains ranging between 1.5 million and 3.75 million barrels. Stocks of distillates,
which include heating oil and diesel fuel, are expected to fall by 100,000 barrels. Four ELECTRICITY SIGN UP
analysts see a decline, three a gain and one no change, with estimates ranging from a draw of
1 million barrels to a build of 900,000 barrels. Refinery use is seen rising 0.6 percentage MCPE AVERAGE
points to 82.8% of capacity. Utilization is seen beginning to level off after several weeks of ERCOT Ave Change
larger gains, as the Gulf Coast completes its recovery from two late-summer hurricanes.
Utilization stood at 87.1% at this time last year, but refiners have cut runs in response to Houston 33.39 14.40
declining demand. "This week's report should reflect the 'tail end' of the effects from last North 33.33 21.46
month's supply disruptions related to Hurricanes Gustav and Ike," said Jim Ritterbusch, West 26.44 21.99
president of the trading advisory firm Ritterbusch & Associates in Galena, Ill.
October 24, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural futures for November on the NYMEX dropped $ 0.181 cents Friday to settle at $ www.capitolareaenergy.com
6.239 per MMBtu, falling along with crude oil and gasoline on concern demand for energy will
decline as the world economy slows. About 40% of natural gas demand in the US originates NATURAL GAS PRICES
with commercial and industrial consumers, who tend to cut back in times of economic NYMEX Last Change
weakness. Crude oil prices declined after OPEC’s decision to cut oil output 1.5 million bpd did
little to shake the perception that there is more than enough oil to meet demand. Natural gas November 08 6.24 -0.18
futures haven’t settled this low since September 21, 2007. Prices had the 4th weekly decline 03 Month Strip 6.48 -0.16
in the last 5 weeks and may test the $ 5.30 level from late August 2007. Economists at 06 Month Strip 6.61 -0.14
Deutsche Bank expect the Group of seven economies, which includes the US, to contract 1.1%
next year. The slowing economy may push oil below $ 50 per barrel and that would drag
natural gas much lower. US petroleum-fuel demand fell 8.5% last week from a year earlier, 18 Month Strip 7.15 -0.10
the EIA said. Last week, the EIA reported a storage injection of 70 Bcf, a bit lower than
expected, compared to an injection of 60 Bcf a year ago. The report showed that total
storage levels of 3.347 Tcf are now 93 Bcf above the 5-year average. For this week, look for OCT. 2008 GAS PRICES
an injection of 60 to 70 Bcf. For this week, major resistance is seen at $ 8.475, with minor at
$ 6.330, while major support is seen at $ 5.250 and minor at $ 6.185. Point Price
NYMEX 7.472
2005 2006 2007 2008
EIA GAS STORAGE

15.00
Region Bcf Change
10.00
East 1985 40
5.00 West 444 4
0.00 Prod 918 26

Total 3347 70
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17 ◄ LINKS ►
Oil Falls to Lowest in 17 Months as Recession Fears Intensify fax it back to 512-266-4712.
By Grant Smith and Yuji Okada-Oct. 27 (Bloomberg) -- Crude oil fell to its lowest since May Click Here!
2007 in New York as plunging stock markets heightened concerns that a global recession will LETTER OF AUTHORIZATION
slash energy demand. OPEC, supplier of 40 percent of the world's crude, may need to make
an additional production cut if its Oct. 24 decision to lower output fails to stabilize prices,
Agence France-Presse said, citing an interview Iran's OPEC representative Mohammad Ali
contract and would like
Khatibi gave on state television. ``Fear is the word,'' said Robert Laughlin, a senior broker notification of natural gas or
with MF Global Ltd. in London. ``Concern about the depth of a global recession and the length electricity rates, please sign up
of any recovery is now causing alarm across world markets.'' Crude oil for December delivery to receive future prices.
fell as much as $2.85, or 4.4 percent, to $61.30 a barrel in after-hours electronic trading on Click Here!
the New York Mercantile Exchange. That's the lowest since May 9, 2007. It was at $61.58 at 9
NATURAL GAS &
a.m. in London. Brent crude oil for December settlement fell as much as $3.03, or 4.9
percent, to $59.02 a barrel on London's ICE Futures Europe exchange. It traded at $59.51 at ELECTRICITY SIGN UP
9:10 a.m. local time. This is the lowest since Feb. 22, 2007. The MSCI World Index lost 3.1
percent to 844.82 at 8:27 in London, having shed more than a quarter of its value this month MCPE AVERAGE
as subprime-related credit losses topped $680 billion. Hong Kong's Hang Seng Index sank 13
ERCOT Ave Change
percent after money-market rates rose, and the Philippines' benchmark gauge plunged 12
percent, triggering a temporary trading halt. `Ì expect prices are not likely to stop falling,'' Houston 30.05 -7.45
said Go Endo, a Fuji Futures Co. commodity strategist in Tokyo. `ÒPEC may not wait until the North 30.05 -7.45
next meeting in December. They will probably hold an extraordinary meeting to cut production West 30.05 -7.45
further.''
To remove your name for our mailing list, please click here. South 30.05 -7.45
October 31, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for December on the NYMEX rose $ .0352 higher on Friday to close at $ www.capitolareaenergy.com
6.783 per MMBtu, ahead of the weekend. Above-normal temperatures will cover a swath of
the nation from Minnesota to New York for much of this week. The warm weather may linger NATURAL GAS PRICES
in the Northeast until November 12th. Canadian and US natural gas production will total NYMEX Last Change
about 70 Bcf per day from now through March, about 900 MMcf more than the same period a
year earlier, Canada’s National Energy Board predicted in its winter outlook. The combination December 08 6.78 0.35
of weaker demand higher availability from production and storage suggests there will be 03 Month Strip 6.98 0.33
sufficient supplies at lower prices this winter. Prospects for natural gas demand growth in 06 Month Strip 7.00 0.30
2009 area reduced as the economic slowdown will probably cut consumption, Barclays
Capital said in a report last week. Last week, the EIA reported a storage injection of 46 Bcf,
about what was expected, compared to an injection of 66 Bcf a year ago. The report showed 18 Month Strip 7.50 0.26
that total storage levels of 3.393 Tcf are now 97 Bcf above the 5-year average. For this week,
look for an injection of about 10 to 20 Bcf. For this week, major resistance is seen at $
8.430, with minor at $ 6.875, while major support is seen at $ 6.350 and minor at $ 6.555. NOV. 2008 GAS PRICES
Point Price
NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.469

2005 2006 2007 2008
Waha Hub 3.43
15.00
10.00 EIA GAS STORAGE

5.00 Region Bcf Change
East 2004 19
0.00
J F M A M J J A S O N D West 451 7
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18 Prod 938 20
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
Total 3393 46
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47
◄ LINKS ►
fax it back to 512-266-4712.
Oil Falls as Asian Import Cuts Heighten Demand Slowdown Click Here!
By Grant Smith, Nov. 3 (Bloomberg) -- Crude oil fell as reduced imports by Asian refiners
reinforced concerns that a demand slowdown is spreading to emerging markets. China LETTER OF AUTHORIZATION
Petroleum & Chemical Corp., Asia's biggest refiner, will process less crude at some plants
because of falling fuel demand, its parent said today. South Korea imported 1.4 percent less If you are currently under
crude oil in October as the global credit crisis sent shockwaves through Asia's fourth-biggest contract and would like
economy. ``Demand growth in the emerging markets seems to be slowing down massively,'' notification of natural gas or
said Eugen Weinberg, an analyst at Commerzbank AG in Frankfurt. ``The outlook is electricity rates, please sign up
disturbingly weak and alarming for commodity traders and investors.'' Crude oil for December to receive future prices.
delivery dropped as much as $1.27, or 1.9 percent, to $66.54 a barrel in electronic trading on Click Here!
the New York Mercantile Exchange. The contract traded at $67.06 a barrel at 10:16 a.m. NATURAL GAS &
London time. Oil climbed 5.7 percent last week, the first gain in five weeks, as the U.S. and ELECTRICITY SIGN UP
China lowered interest rates to prop up economic growth. Crude has fallen 53 percent from its
record $147.27 a barrel on July 11. The United Arab Emirates has notified customers that
MCPE AVERAGE
they will receive less crude as a result of OPEC's Oct. 24 resolution to cut production by 1.5
million barrels a day, Oil Minister Mohamed al-Hamli told reporters in Abu Dhabi today. Iran ERCOT Ave Change
will cut crude oil sales to Total SA, Europe's third- largest oil company, by some 70,000 barrels Houston 28.14 1.47
per day, Iranian oil Minister Gholamhossein Nozari said on Nov. 2. Nigeria's national oil
North 28.06 1.54
company announced shipment cuts of 5 percent in November and December last week.
West 18.90 9.25
November 14, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for December on the NYMEX dropped $ 0.006 lower Friday to settle at $ www.capitolareaenergy.com
6.312 per MMBtu, falling for a 4th consecutive day amid speculation a slowing economy will
cut demand and after the EIA reporting a larger than expected storage build. First-time NATURAL GAS PRICES
claims for US unemployment insurance rose last week to the highest level since September NYMEX Last Change
2001, when the economy was last in a recession, as weakening demand led companies to
fire more workers. Although weather forecasts point to colder-than-normal temperatures in December 08 6.31 -0.01
the Northeast and Midwest over the next two weeks, supply constraints are unlikely given an 03 Month Strip 6.44 -0.01
abundance of natural gas in storage. The National Weather Service is predicting below- 06 Month Strip 6.50 -0.00
normal-temperatures in the eastern half of the US until November 26th. The economic
downturn has created concerns about declining demand for natural gas and other energy
commodities. Last wee, the EIA reported a storage injection of 62 Bcf, much higher than 18 Month Strip 7.10 0.02
expected, compared to an injection of 4 Bcf last year. The report also showed total storage
levels of 3.467 Tcf are now 112 Bcf above the 5-year average. For this week, look for an
injection of between 5 and 15 Bcf. For this week, major resistance is seen at $ 07.91, with NOV. 2008 GAS PRICES
minor at $ 6.490, while major support is seen at $ 5.750 and minor at $ 6.285.
Point Price

2005 2006 2007 2008
Waha Hub 3.43
15.00

East 2041 31
0.00
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18 Prod 965 27
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
Total 3467 62
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47
◄ LINKS ►
fax it back to 512-266-4712.
Crude Oil Falls as Global Slowdown Cuts Demand in China, Click Here!
Japan LETTER OF AUTHORIZATION
By Gavin Evans and Grant Smith-Nov. 17 (Bloomberg) -- Oil fell for a second day as Japan
entered its first recession since 2001 and China's largest crude producer said demand has
declined ``sharply.'' Japan's economy contracted 0.4 percent in the third quarter, official If you are currently under
figures today showed. China National Petroleum Corp., the biggest producer in the world's contract and would like
second-largest oil consumer, said demand has fallen since September because of the global notification of natural gas or
electricity rates, please sign up
credit crisis. OPEC may wait until December to cut output, the group's president said. `Às to receive future prices.
the stream of bearish news continues unabated, oil prices are again under pressure,'' said
Christopher Bellew, senior broker at Bache Commodities Ltd. in London. ``The only hope for a Click Here!
price recovery is a big production cut by OPEC or a shut-in of some high-cost non-OPEC NATURAL GAS &
production.'' Crude oil for December delivery dropped as much as $1.44, or 2.5 percent, to ELECTRICITY SIGN UP
$55.60 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was
at $55.83 at 11:11 a.m. in London. Prices remained lower today even after Royal Dutch MCPE AVERAGE
Shell Plc and Chevron Corp. announced pipeline disruptions in Nigeria. Shell extinguished a
fire at a pipeline that carries crude to the Forcados export terminal. Chevron shut its onshore ERCOT Ave Change
production in the country after a pipeline breach last week. Houston 27.17 8.89
North 26.85 8.90
West 14.38 9.45
November 21, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for December on the NYMEX rose $ 0.164 higher Friday to settle at $ 6.48 www.capitolareaenergy.com
per MMBtu, as colder weather sparked more heating demand. Colder-than-normal weather is
probable from Texas to Maine through next week, according to the latest forecast. Right now NATURAL GAS PRICES
cold weather is trumping concern over the economy. Natural gas prices gained 2.7% last NYMEX Last Change
week. The December futures contract expires today. A cold December, was forecast a couple
of months ago. If that happens, there is more upside potential. Cold weather in the Midwest December 08 6.48 0.16
and Northeast may be the dominant pattern into early December, according to EarthSat 03 Month Strip 6.51 0.12
Energy Weather of Rockville, Maryland. “A very chilly forecast continues here for the first part 06 Month Strip 6.51 0.10
of December.” The lower temperatures may bring a withdrawal from storage of as much as
35 Bcf in the current week. Last week, the EIA reported a storage injection of 16 Bcf, higher
than expected, compared to an injection of 0 Bcf a year ago. The report also showed that 18 Month Strip 7.00 0.05
total storage levels of 3.488 Tcf are now 140 Bcf above the 5-year average. For this week,
look for a withdrawal of about 10 to 20 Bcf. For this week, major resistance is seen at $
8.160, with minor at $ 7.140, while major support is seen at $ 6.510 and minor at $ 6.950. NOV. 2008 GAS PRICES
Point Price

2005 2006 2007 2008
Waha Hub 3.43
15.00

East 2041 0
0.00
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18 Prod 974 11
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
Total 3488 16
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47
◄ LINKS ►
fax it back to 512-266-4712.
Citigroup Gets Guarantees on $306 Billion of Assets Click Here!
By Bradley Keoun-Nov. 24 (Bloomberg) -- Citigroup Inc., facing the threat of a breakup or sale,
received $306 billion of U.S. government guarantees for troubled mortgages and toxic assets
to stabilize the bank after its stock fell 60 percent last week. Citigroup also will get a $20 If you are currently under
billion cash injection from the Treasury Department, adding to the $25 billion the company contract and would like
received last month under the Troubled Asset Relief Program. In return for the cash and notification of natural gas or
electricity rates, please sign up
guarantees, the government will get $27 billion of preferred shares paying an 8 percent to receive future prices.
dividend. Citigroup rose as much as 41 percent in German trading today. The Treasury,
Federal Reserve and Federal Deposit Insurance Corp. said in a joint statement that the move Click Here!
aims to bolster financial-market stability and help restore economic growth. The decision NATURAL GAS &
came after New York-based Citigroup’s tumbling share price sparked concern that depositors ELECTRICITY SIGN UP
might pull their money and destabilize the company, which has $2 trillion of assets and
operations in more than 100 countries. Citigroup’s stock plunged 83 percent this year and MCPE AVERAGE
dropped below $5 last week for the first time since 1995. The shares were up $1.26 at $5.03
in Germany in recent trading. The government’s preferred shares come with warrants to buy ERCOT Ave Change
254 million Citigroup shares at $10.61 each, allowing taxpayers to profit if the stock rallies Houston 31.99 -0.99
following the government’s investment, according to a term sheet that accompanied the North 31.82 -0.64
agencies’ statement. Citigroup is required to pay a quarterly dividend of no more than 1 cent a
West 31.88 -0.76
share for the next three years, down from 16 cents in the most recent quarter.
November 28, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for January on the NYMEX dropped $ 0.368 Friday to settle at $ 6.51 per www.capitolareaenergy.com
MMBtu, falling on concern a worsening economy will cut demand. The recession is cutting
into demand in the US, where about 42% of natural gas consumption comes from industrial NATURAL GAS PRICES
and commercial users. Oil also slid lower before ministers from OPEC met in Cairo to NYMEX Last Change
consider an output cut after a 64% drop in crude prices from a July record. Moderating
temperatures could reduce demand and lessen withdrawals from storage. Prices also fell as Jan 08 6.51 -0.37
speculators sold profitable positions while closing their November trading books. Lower 03 Month Strip 6.87 0.46
trading volumes during the holiday weekend contribute to a cascading effect on prices. 06 Month Strip 6.87 0.42
Equity markets, which had helped lift commodities in the past week, are also providing little
direction. Last week, the EIA reported a storage withdrawal of 66 Bcf, somewhat higher than
expected, compared to a withdrawal of 8 Bcf a year ago. The report showed that total storage 18 Month Strip 7.38 0.37
levels of 3.422 Tcf are now 88 Bcf above the 5-year average. For this week, look for a
withdrawal of about 30 to 40 Bcf. For this week, major resistance is seen at $ 8.160, with
minor at $ 7.920 while major support is seen at $ 6.210 and minor at $ 6.670. Dec. 2008 GAS PRICES
Point Price

2005 2006 2007 2008
Waha Hub 4.99
15.00

East 1990 -51
0.00
J F M A M J J A S O N D West 467 -6
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18 Prod 965 -9
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
Total 3422 -66
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47 6.89
◄ LINKS ►
Oil groups expect $40 barrel – CNOOC head electricity bids, simply complete
By Alan Beattie in Barcelona-The world’s national oil companies expect oil prices to fall further and our Letter of Authorization and
will cancel most planned investment projects even at current levels, according to the head of a fax it back to 512-266-4712.
Chinese state-owned group. A recent meeting of the national oil companies in Beijing had
Click Here!
predicted oil prices would fall to about $40 a barrel, Fu Chengyu, chief executive of China National
Offshore Oil Corporation, told a conference in Barcelona. “The consensus at the time was that LETTER OF AUTHORIZATION
everybody realized the oil price would be even lower,” Mr Fu told the Global China Business
meeting. “Nobody knew where it would be but most of them said around $40.” Mr Fu said that If you are currently under
about 27 companies from 23 countries attended the meeting in Beijing, which he said was on contract and would like
October 17 or 18, though he declined to name those present. He described the tone of the meeting notification of natural gas or
as one of “panic” at falling prices. Executives thought that the oil price would soon rebound to electricity rates, please sign up
about $50-$55, he said, but even at those levels, investment in new production would be cut back to receive future prices.
heavily. “If the oil price remained around $50 or $55, that would mean cutting at least 60 per cent Click Here!
of budgeted projects for the next one or two years from the national oil companies,” Mr Fu said. Of NATURAL GAS &
the new extraction projects planned by state-owned oil companies in deep-sea areas, the lowest
break-even oil price was about $60 a barrel and the highest about $90 per barrel, he said. “When ELECTRICITY SIGN UP
most of the oil companies budgeted their projects, they were using $70, $80, even $100 a barrel
for their cash flow calculations,” he said. “For those projects that have started, certainly they will try MCPE AVERAGE
to complete them, but for those projects that have not started yet they will delay or cancel. Simply,
ERCOT Ave Change
they don’t have enough cash to do all of those that they budgeted.” Mr Fu also said that any cut in
production by OPEC, the cartel of oil exporting countries, was regarded as likely to be ineffectual. Houston 37.93 -4.35
“Most of the consensus said that if OPEC cut production, it might not be as effective as they North 37.93 -4.35
thought,” said Mr Fu. Even when OPEC had previously announced an output reduction of 1.5m
barrels a day, the global oil price still went down, Mr Fu added. West 37.93 -4.35
December 5, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for January fell $ 0.275 lower Friday to settle at $5.742 per MMBtu, www.capitolareaenergy.com
falling to the lowest price in more than 15 months as a slowing economy cut demand from
utilities and industrial users. About 42% of US natural gas consumption comes from NATURAL GAS PRICES
industrial and commercial users, and another 30% is used in electricity generation. NYMEX Last Change
Employers last month reduced jobs at the fastest pace since December 1974, shrinking
payrolls by 533,000 workers. Natural gas futures dropped 12% last week, the biggest drop Jan 08 5.74 -0.28
since August. Demand from industrial consumers was about 1 Bcf per day, or 6.3%, lower in 03 Month Strip 5.76 -0.28
November than a year earlier. Industrial production in such areas as steel is slumping as the 06 Month Strip 5.83 -0.28
US economy sags. Should the economy worsen further, as much as a 2 Bcf per day may be
removed from industrial usage. Crude oil prices fell to the lowest since December 10, 2004.
Last week, the EIA reported a storage withdrawal of 64 Bcf, a little less than expected, 18 Month Strip 6.51 -0.27
compared to a withdrawal of 66 Bcf a year ago. The report also showed that total storage
levels of 3.358 Tcf are now 69 Bcf above the 5-year average. For this week, look for a
withdrawal of about 80 to 90 Bcf. For this week, major resistance is seen at $ 7.950, with Dec. 2008 GAS PRICES
minor at $ 5.770, while major support is seen at $ 5.250 and minor at $ 5.725.
Point Price

2005 2006 2007 2008
Waha Hub 4.99
15.00

East 1929 -61
0.00
J F M A M J J A S O N D West 466 -1
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18 Prod 963 -2
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
Total 3358 -64
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47 6.89
◄ LINKS ►
fax it back to 512-266-4712.
Click Here!
IEA Cuts 2009 Global Oil Demand on Slowing Economy
By Nidaa Bakhsh-Dec. 5 (Bloomberg) -- The International Energy Agency cut its global oil LETTER OF AUTHORIZATION
demand forecast for 2009 because of the world economic slowdown. The Paris-based agency
reduced its demand forecast by 170,000 barrels a day from its November estimate to 86.37 If you are currently under
million barrels a day, analyst David Martin said in a phone interview today as the agency contract and would like
issued an update to its July’s Medium-Term Oil Market report. The forecast for 2013 demand notification of natural gas or
has been lowered by 2.9 million barrels a day to 91.25 million barrels a day from a July electricity rates, please sign up
estimate of 94.14 million barrels a day, Martin said. Consumers have cut spending amid a to receive future prices.
global economic downturn, reducing demand for fuels such as gasoline, and naphtha, used in Click Here!
plastics, clothing, and toys. The IEA has removed Kuwait Petroleum Corp’s fourth refinery at NATURAL GAS &
Al-Zour and Saudi Arabia’s Jubail facility from its forecast of world refinery capacity in 2013 as ELECTRICITY SIGN UP
lower demand delays projects. That cuts 825,000 barrels a day from refinery capacity in
2013, now forecast to rise 7.98 million barrels a day in the next five years. These large-scale
projects “can no longer realistically be completed within the time frame,” the IEA said. The MCPE AVERAGE
IEA’s forecast for 2008 demand has been reduced by 40,000 barrels a day from last month’s ERCOT Ave Change
report, Martin said. Gasoline and naphtha demand will remain weak while growth is biased Houston 32.75 -8.98
toward diesel, the IEA said today in the report.
North 32.75 -8.98
West 32.75 -8.98
December 15, 2008
David Babin
NATURAL GAS & ELECTRICITY

u 5105 Pryor Lane
Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for January on the NYMEX climbed $ 0.157 per MMBtu yesterday to settle www.capitolareaenergy.com
at $ 5.645 for the first time in three days on a forecast for colder weather across most of the
nation. Prices edged higher Monday as cold temperatures are expected to increase heating NATURAL GAS PRICES
demand in the Midwest. The National Weather Service forecast for next week calls for colder- NYMEX Last Change
than-normal temperatures to stretch from the Northwest across the Midwest and into the
Northeast. Those temperatures are expected to moderate by the end of the year, with Jan 08 5.68 0.15
temperatures in the Northeast warming to above seasonal norms. Temperatures are 03 Month Strip 5.67 0.15
predicted to be near or below normal in the Midwest over that same period. The Midwest will 06 Month Strip 5.74 0.12
continue to battle cold weather over the next several days. However, that colder weather is
not expected to move into the Northeast. It will remain anchored over the major natural gas
consumption regions of the Northern Plains, Midwest and Great Lakes where low 18 Month Strip 6.44 0.09
temperatures will range from 5-30 degrees below zero over the next few days. Analysts with
Tudor, Pickering, Holt Securities cut their 2009 natural gas price forecast to $ 5.50 per Mcf
from its previous prediction of $ 8 per Mcf, citing an oversupplied market and weakened Dec. 2008 GAS PRICES
demand. Last week, the EIA reported a storage withdrawal of 67 Bcf, somewhat less than
expected, compared to a withdrawal of 129 Bcf a year ago. The report also showed that total Point Price
storage levels of 3.291 Tcf are now 110 Bcf above the 5-year average. For this week, look for NYMEX 6.888
a withdrawal of about 120 to 130 Bcf. For this week, major resistance is seen at $ 7.795, Houston Ship Channel 6.11
with minor at $ 5.795, while major support is seen at $ 5.250 and minor at $ 5.570.
Waha Hub 4.99
NYMEX HISTORICAL NATURAL GAS PRICES
2005 2006 2007 2008

EIA GAS STORAGE
Region Bcf Change
15.00
East 1871 -58
10.00
West 465 -1
5.00 Prod 955 -8
0.00 Total 3291 -67

2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32 ◄ LINKS ►
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17 If you are interested in receiving
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47 6.89 electricity bids, simply complete
fax it back to 512-266-4712.
Click Here!
Crude Oil Rises as OPEC Members Prepare to Reduce Production
By Alexander Kwiatkowski-Dec. 16 (Bloomberg) -- Crude oil rose after Venezuela’s oil minister If you are currently under
said OPEC will reduce production by at least 1 million barrels a day in an effort to stem a contract and would like
slump in prices. The Organization of Petroleum Exporting Countries, supplier of more than 40 notification of natural gas or
percent of the world’s oil, is ready to make a “big” cut in supplies when it meets tomorrow, electricity rates, please sign up
to receive future prices.
Venezuelan Oil Minister Rafael Ramirez said today. Crude has tumbled 70 percent from a
record $147.27 a barrel on July 11 as the deepening global recession cuts demand for fuel. Click Here!
“There is too much oil on the market right now,” said Johannes Benigni, chief executive officer NATURAL GAS &
at consultants JBC Energy GmbH in Vienna. “Whatever they do now, presumably more than a ELECTRICITY SIGN UP
2 million barrels a day cut, is going to help, but what helps the psychology is that Russia has
also announced they may join in.” Crude oil for January delivery rose as much as 96 cents, or
MCPE AVERAGE
2.2 percent, to $45.47 a barrel in electronic trading on the New York Mercantile Exchange.
The contract traded at $44.97 at 10:30 a.m. London time. OPEC members and other ERCOT Ave Change
producers such as Russia are under increasing pressure to reduce supplies as oil’s $100 a Houston 62.54 32.91
barrel collapse cuts export revenue, creating budget shortfalls. World oil demand will fall this
North 62.47 33.14
year for the first time since 1983 as the recession cuts fuel consumption, the International
Energy Agency said last week. West 57.64 49.41
December 15, 2008
David Babin

Austin, Texas 78734
Phone 512-266-4710
Natural gas futures for January on the NYMEX dipped $ 0.214 lower Friday to settle at $ 5.334 per www.capitolareaenergy.com
MMBtu, driven down by falling crude oil prices and expectations for mild weather across much of the
nation next month. There was a big pull-down on the natural gas contract from crude oil as traders NATURAL GAS PRICES
questioned whether the OPEC would fully enforce a planned record output cut of 2.2 million bpd. Above-
normal temperatures will be centered on Texas and spread throughout the Southwest, extending into NYMEX Last Change
the Great Lakes and Mid-Atlantic states in January-March 2009, the National Oceanic Atmospheric Jan 08 5.33 -0.21
Administration said in a forecast update. The National Weather Service is predicting below-normal
temperatures in New England and the Upper Midwest from December 23rd to December 31st. A larger- 03 Month Strip 5.39 -0.21
than-expected pull from gas storage last week failed to provide sustained support for prices. Last week, 06 Month Strip 5.50 -0.19
the EIA reported a storage withdrawal of 124 Bcf, somewhat more than was expected, compared to a
withdrawal of 128 Bcf a year ago. The report also showed that total storage levels of 3.167 Tcf are now 12 Month Strip 5.85 -0.18
114 Bcf above the 5-year average. For this week, look for a withdrawal of about 120 to 130 Bcf. For this 18 Month Strip 6.17 -0.18
week, major resistance is seen at $ 7.775, with minor at $ 5.40, while major support is seen at $ 4.590
and minor at $ 5.250.
NYMEX HISTORICAL NATURAL GAS PRICES Dec. 2008 GAS PRICES

2005 2006 2007 2008 Point Price
NYMEX 6.888
15.00
10.00 Waha Hub 4.99
5.00

Region Bcf Change
2005 6.21 6.29 6.30 7.32 6.75 6.12 6.98 7.65 10.85 13.91 13.83 11.18
East 1780 -91
2006 11.43 8.40 7.11 7.23 7.20 5.93 5.89 7.04 6.82 4.20 7.15 8.32
West 454 -11
2007 5.84 6.92 7.65 7.56 7.51 7.59 6.93 6.11 5.43 6.42 7.27 7.17
2008 7.17 7.996 9.83 9.578 11.28 11.92 13.11 9.21 8.39 7.47 6.47 6.89 Prod 933 -22
Total 3167 -124
Crude Oil Continues Downturn, But May Be Stabilizing

◄ LINKS ►
On Friday the market ended the day on a slightly positive note (with the exception of the expiring Jan NYMEX WTI
contract). So far this morning the complex is showing small gains after a very quiet weekend as we enter a period If you are interested in receiving
of low liquidity resulting from many participants already heading to the sidelines ahead of the upcoming Christmas electricity bids, simply complete
and New Year’s holidays. The main drivers that have been impacting the price of oil for the last several months our Letter of Authorization and
remain in place.... energy fundamentals (in particular declining demand), OPEC, equities, and the direction of the fax it back to 512-266-4712.
dollar. As we have been indicating for about a week or so all of these markets are currently in a transition. Oil is
Click Here!
showing many of the characteristics of a bottoming pattern as is the equity markets. The dollar has lost a lot of its
luster and has been back into a downward decline for the last several weeks. If the current market transition LETTER OF AUTHORIZATION
remains in place for the next several weeks it could be supportive for a modest move to the upside for oil. The
biggest question in front of the oil market is will the announced OPEC cuts be enough to stay ahead of the demand
decline curve and if so when can we expect the current overhang of oil to begin to be eliminated? As we discussed If you are currently under
in detail last week we do expect OPEC to regain control of the situation and as such the current overhang of oil will contract and would like
slowly begin to be eliminated. It is going to take the better part of the 1st quarter of 2009 before we can expect to notification of natural gas or
see global inventories solidly enter a destocking pattern even if OPEC’s compliance rate is not 100%. The lower the electricity rates, please sign up
compliance the longer the period of time before the supply & demand balance will change. We expect OPEC to receive future prices.
compliance levels will be between 70 to 80% at least in the short term. With a new US President just weeks away
from taking over the reins of the largest economy in the world and the euphoria building around that event we see Click Here!
the short to medium term market sentiment slowing becoming less negative. In addition with trillions of dollars of NATURAL GAS &
stimulus packages already announced by the US and many nations around the globe the trading community is
slowly going to recognize that the global economic downturn may also be bottoming out. We expect the massive ELECTRICITY SIGN UP
global investments will begin to work their way into the economies during the later part of the first half of 2009
with results seen as early as the later part of 2009. Results will come in the form of job creation or at least the
elimination of job losses.One of the many signals we will be watching closely is the shape of the forward curve. The MCPE AVERAGE
forward curve for everything in the energy complex is in a strong contango. As less crude oil is produced and ERCOT Ave Change
exported by OPEC and possibly several non-OPEC nations the forward curve should start changing its shape to a
more modest contango at first to even a complete transition to a backwardation over time( if the OPEC cuts last Houston 27.32 -11.46
through at the least the first half of 2009). On the refined product side with refiners cutting back refinery utilization
rates and likely to remain in that mode for several months the production of refined products will decline and thus North 27.32 -11.25
refined product inventories will also decline. Again the first sign that this pattern is emerging will be a change in West 27.32 3.03
the shape of the forward curves for HO & gasoline both of which are currently in a steep contango.

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Capitol Area Energy, Inc.

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

2005 2006 2007 2008 Waha Hub 4.92

0.00 West 423 12

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

EIA GAS STORAGE

5.00 West 432 9

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES Waha Hub 4.92

2005 2006 2007 2008

EIA GAS STORAGE

0.00 Prod 892 25

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

2005 2006 2007 2008

EIA GAS STORAGE

0.00 Prod 918 26

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.469

10.00 EIA GAS STORAGE

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.469

10.00 EIA GAS STORAGE

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.469

10.00 EIA GAS STORAGE

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.888

10.00 EIA GAS STORAGE

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES NYMEX 6.888

10.00 EIA GAS STORAGE

NATURAL GAS & ELECTRICITY

2005 2006 2007 2008

0.00 Total 3291 -67

NATURAL GAS & ELECTRICITY 5105 Pryor Lane

NYMEX HISTORICAL NATURAL GAS PRICES Dec. 2008 GAS PRICES

0.00 EIA GAS STORAGE

Total 3167 -124

Crude Oil Continues Downturn, But May Be Stabilizing

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