Following the sharp fall for crude oil prices the day before yesterday, natural gas prices soon followed as the July futures prices fell sharply by nearly 4%. Gold, silver and crude oil prices didn’t change much yesterday.
Here is a summary of the price movements of precious metals and energy commodities for June 16h:
Oil and Gas prices:
WTI Spot oil price bounced back following the sharp falls and very moderately inclined by 0.15% and reached $94.95 per barrel; during June the WTI spot oil price fell by 7.5%.
Brent spot price also inclined yesterday by 0.18% to $114.33 per barrel.
As a result, the difference between Brent and WTI moderately inclined and reached $19.38.
Natural gas Henry Hub future price (July delivery) on the other hand fell very sharply by 3.71% to $4.41 per mmbtu. The Henry Hub spot price remained unchanged on $4.53/mmbtu; as a result the gap between the spot and future price fell to -$0.12, i.e. backwardation. During June, natural gas spot price (Henry Hub) declined by 2.2%.
Precious Metals prices:
Gold price continue to seek direction and nearly didn’t change yesterday; it inclined by 0.24% to $1,529. Silver price also rose by 0.42% to $35.56.
During June, gold prices decreased by 0.4% and silver price fell by 7.2%.
The EURO/ USD bounced back and rose by 0.16%, as the USD depreciated against the EURO. During June the EURO/USD lost 1.3% 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):
For further reading:
Monthly Analysis and Outlook:
- Natural gas prices outlook for June 2011
- Gold and silver prices outlook for June 2011
- Oil prices Monthly outlook –June 2011