Let’s quickly review the changes in major energy commodities market and precious metals for February 9th:
Oil and Gas prices:
Crude oil price (WTI spot) after falling all week, yesterday it bounced back by 1% as it settled on 86.71 $/b.
Brent spot price, also inclined to reach 101.73$/b, an increase of 2.5%.
During the month of February, WTI spot prices declined by 3.2%, while Brent spot increased by 1.3%.
As a result, the spread between the WTI and Brent spot prices has further widen and it’s currently 15.02$/b – the widest spread ever recorded!!! (For more about figuring out the spread between WTI and Brent oil see here).
Natural gas prices continue to fall as the winter season subsides; the NY city gate price declined yesterday by over 3.48%.
Natural gas spot price (Henry Hub) declined for fourth straight business day, yesterday by 0.24%, as it reached 4.23$/mmbtu – the lowest level since December 2010.
Precious Metals prices:
The precious metals market is making a small comeback:
Gold price inclined yesterday by 0.1%, as it reached 1,365 $/t oz.
Silver prices also increased very moderately yesterday by 0.02% and reached 30.27$/t oz.
EURO/ USD inclined yesterday by 0.79%, the USD also depreciated against the CAD, as the USD/CAD declined by 0.14%. For a more detailed report on major currencies, check out Forex crunch.
A summary of yesterday’s Prices Changes:
The following table presents the main descriptive data from last business day – February 9th, 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):
For further reading (in this site):
- Weekly outlook for Crude oil, Natural gas and Gold 7-11 February
- Is gold a safe heaven investment compare to S&P500
- Examining the Fed’s policy and its potential effect on oil prices
Yearly Analysis and Outlook: