The week started off with natural gas prices rising, crude oil prices falling and precious metals moderately changing.
Let’s review the main price changes in major energy commodities and precious metals for March 28th:
Oil and Gas prices:
Crude oil price (WTI spot) declined yesterday, March 28th by 0.97% to 103.98$/b. The NYMEX Futures Prices (April delivery) also decreased by 1.35% to reach the same price as the spot oil.
Brent spot price also fell by 0.98% to reach 114.69$/b.
As a result, the difference between Brent and WTI moderately fell to 10.71$/b.
Natural gas spot price (Henry Hub) started off the week with a sharp rise of 5.08%, to reach 4.34$/mmbtu.
The Henry Hub future price on the other hand moderately declined by 0.45% to reach 4.38$/mmbtu, resulting in the spread between future and spot price to reach 0.04$/mmbtu, i.e. contango.
Precious Metals prices:
Silver price, after closing last week with a drop, starts off with a moderate rise of 0.11%; gold prices on the other hand continues to decline, yesterday by 0.44%. During March silver prices increased by 7.7%, and gold prices fell by 0.7%.
EURO/ USD didn’t change much and moderately decreased yesterday by 0.01%. For a more detailed report on major currencies, check out Forex crunch.
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):
Yearly Analysis and Outlook:
- Crude oil price in 2010 and outlook for 2011
- Natural gas spot price in 2010 and projection to 2011
- Gold Prices Outlook for 2011 and Analysis of 2010