Oil prices fell while gold prices inclined –June 1

June started with moderate changes in major commodities prices as they are still seeking direction with gold, crude oil and silver continue to zigzag as they did in the past couple of week.

Here is a summary of the main price changes in energy commodities and precious metals for June 1st:

Oil and Gas prices:

Spot oil price (WTI) started June with a 2.35% drop as it reach $100.29 per barrel; during May the WTI spot oil price fell by 9.4%.

Brent spot price also declined yesterday by 2.07% and reached $114.31 per barrel.

As a result, the difference between Brent and WTI remained unchanged at $14.02.

Natural gas price (Henry Hub spot) didn’t change yesterday and remained on $4.63 per mmbtu – the highest price level in May. The Henry Hub future price (July delivery) decreased moderately by 0.86% to $4.63 per mmbtu; as a result the future and spot price leveled out.

Precious Metals prices:

Gold price continue to demonstrate moderate changes as it inclined yesterday by 0.42% to reach $1,543. Silver price on the other hand declined by 1.60% and reached $37.69.

During May, gold prices decreased by 1.3% and silver price fell by 21.2%.

The EURO/ USD fell yesterday after it rose for three straight business days; yesterday it declined by 0.47%, as the USD appreciated against the EURO. During May the EURO/USD lost 2.8% of its value.

A summary of yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Crude spot oil price, Natural gas spot price, Current Gold price Silver prices 2011 June 1

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