Crude oil prices finished the week with falls; Gold and silver prices increased for the fourth straight day; natural gas price kept its downward trend.
Here is a summary of the price movements of precious metals and energy commodities for July 8th:
Oil and Gas prices:
WTI Spot oil price continues to seek direction and fell yesterday by 2.5% to $96.20 per barrel; during July the WTI spot oil price rose by 0.8%.
Brent spot price also declined by 0.53% to $117.78 per barrel.
Due to these changes the difference between Brent and WTI inclined to $21.58/bbl.
Natural gas Henry Hub future price (August delivery) bounced back and rose by 1.63% to $4.21/mmbtu. The Henry Hub spot price on the other hand decreased by 1.18% to $4.19/mmbtu; the gap between the spot and future price rose to $0.02, i.e. contango. During July, natural gas spot price (Henry Hub) declined by 2.1%.
Precious Metals prices:
Gold price inclined again for the fourth straight day yesterday by 0.72% to $1,541 – the highest price level since June 22nd. Silver price also increased by 0.23% to $36.54.
During July, gold prices increased by 2.6% and silver price by 4.9%.
The EURO/ USD changed direction again and declined by 0.68%, as the USD appreciated against the EURO. During July the EURO/USD fell by 1.6% compared with the rate at the beginning of the month.
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: