Oil and Natural Gas Tumbled Down on Wednesday –Recap May 30th

Gold and silver prices, unlike other energy commodities, increased on Wednesday. Crude oil tumbled down by over 3% (for both Brent and WTI). Furthermore, the price of natural gas (future and spot) also plummeted to its lowest level in over two weeks. The Euro sharply depreciated against the USD. Several other exchange rates such as the Australian dollar also plunged against the USD.

Here is a summary of the daily changes in precious metals and energy commodities for May 30th, 2012:

Forex and Bullion Markets:

Gold bounced back and rose by 0.95% to $1,565.7; Silver also traded up by 0.69% and reached $27.98. During the month, gold fell by 5.92% and silver by 9.78%.

The Euro/USD tumbled down by 1.09% to 1.2367; furthermore, the U.S Dollar also sharply appreciated against several currencies such as Australian dollar by 1.45%.

Energy Commodities:

WTI oil price plummeted yesterday by 3.24% to $87.82 per barrel;

Brent oil also trade sharply down by 3.46% to $103.58 per barrel;

Following these developments, the difference between Brent and WTI settled at $15.76/bbl. During the month, WTI declined by 16.26% and Brent oil by 13.4%.

Finally, the Henry Hub future (June delivery) plummeted again by 2.81% to $2.42/mmbtu; the Henry Hub spot also traded sharply down to $2.39/mmbtu; the difference between the spot and future edged up to $0.03/mmbtu, Contango.

A Summary for May 30th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold Silver Crude oil Natural gas 2012 may 30

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