Oil and Natural Gas Declined on Wednesday–Recap August 8th

Many commodities changed direction and declined on Wednesday: crude oil price (WTI) decreased while Brent oil increased again on Wednesday; gold edged up while silver slipped; natural gas Henry Hub (September delivery) and spot prices also fell. The Euro declined on Wednesday. Several exchange rates including the Aussie dollar rose against USD.

Here is a summary of the daily changes in precious metals and energy commodities for August 8th, 2012:

Forex and Bullion Markets:

Gold rose by 0.2% to $1,616; Silver edged down by 0.04% and reached $28.08. During the month, gold rose by 0.09%; silver, by 0.58%.

The Euro/USD slipped by 0.27% to 1.2365; alternatively, the U.S Dollar depreciated against some other currencies such as Aussie dollar by 0.16%.

Energy Commodities:

WTI oil price declined yesterday by 0.34% to $93.35 per barrel;

Brent oil rose again by 0.45% to $112.2 per barrel;

Following these changes, the gap between Brent and WTI rose to $18.85/bbl. During the month, WTI rose by 6.01% and Brent oil by 5.9%.

Finally, the Henry Hub future (September delivery) decreased by 1.01% to $2.94/mmbtu; the Henry Hub spot fell to $2.96/mmbtu; the difference between the spot and future remained at -$0.02, backwardation.

A Summary for August 8th:

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

Gold Silver Crude oil Natural gas 2012 August 8

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