Slow day for oil and gold | natural gas future fell sharply –June 16

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):

Crude spot oil prices, Natural gas spot price, Current Gold and Silver prices 2011 June 16


For further reading:

Monthly Analysis and Outlook: