The commodities market finished the week with crude oil prices (WTI spot oil and Brent oil) rising, while gold prices finished falling.
Here is a summary of the changes in commodities and precious metals for May 13th:
Oil and Gas prices:
Spot oil price (WTI) rose yesterday for the second straight day, by 0.69% and reached 99.65$/b; during May the WTI spot oil price fell by 12.1%.
Brent spot price also inclined by 0.97% and reached 113.80$/b.
As a result, the difference between Brent and WTI inclined to 14.15$/b.
Natural gas prices (Henry Hub spot) also inclined by 0.24% and reached 4.1$/mmbtu.
The Henry Hub future price increased by 1.43% to 4.25$/mmbtu – the highest price level this week; as a result the spread between future and spot price inclined to 0.15$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price decreased yesterday and finished the week at 1,493$, a 0.88% decline.
Silver price bounced back and rose by 0.62% to end at 35.013$.
During May, gold prices decreased by 4% and silver price fell by 28.0%.
The EURO/ USD dropped again yesterday by 0.89%, as the USD appreciates against the EURO.
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):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Crude oil prices Monthly outlook –April 2011