Crude oil price bounced back above 90$ – daily recap Jan 5

Yesterday, Crude oil price (WTI), after falling sharply on Tuesday by over 2.3%, it bounced back with a 1% increase reaching 90.3 USD/b.

The picture is different for natural gas prices:

The natural gas spot price (Henry Hub) after rising all week, fell yesterday by 1.7%; the Nymex Henry Hub Future Price (futures for February) continues to fall, this time it decreased by 2.4%; while natural gas spot price (NY city gate) after it had fallen by over 5 % on Tuesday, yesterday it rose by 1.5%.

Today, the EIA (Energy Information Administration) will issue its weekly report on U.S. Natural gas storage and consumption of the passing week.

Last week’s EIA report for the week of 24th of December there was a decline of 4%, in natural gas underground storage (Billion Cubic Feet) which is a decline of over 136 Billion cubic feet (see read my previous review on natural gas storage).

Gold and Silver prices continue to fall for the second straight day, this time by 0.37% and 1.05%, respectively.

These fluctuations of Gold and Silver prices could be related to heavy trading in the beginning of the year. This recent decline, however, is far from being a sign of a shift in the upward trend of these metals of the recent years, and only a consistent change will convince that there is a shift from an upward to a downward trend.

EURO/ USD continues to decrease as the USD is showing strength against the EURO, yesterday the EURO/ USD decreased by over 1%; the USD also continues to strength against the YEN, as the USD/YEN rose by nearly 1.5%.

A summary of yesterday’s Prices Changes:

The following table presents the main descriptive data from last business day – January 5th, for precious metals, energy commodities and exchange rates. The table includes: settled prices, daily percent change, and quantitative change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Natural gas spot price, Crude oil price, current Gold prices Silver prices Daily Recap January 5

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