Oil prices fell precipitately as USD strengthened –June 15

Crude oil prices plummeted yesterday as the US dollar strengthened against major currencies including Euro and Canadian Dollar. Natural gas spot price also followed and fell; gold and silver prices didn’t change much.

Here is a summary of the price movements of precious metals and energy commodities for June 15h:

Oil and Gas prices:

WTI Spot oil price fell precipitately yesterday by 4.59% and reached $94.81 per barrel – the lowest price level since February 22nd 2011; during June the WTI spot oil price fell by 7.7%.

Brent spot price also sharply declined yesterday by 4.53% to $114.12 per barrel.

As a result, the difference between Brent and WTI moderately declined and reached $19.31.

Natural gas price (Henry Hub spot) also decreased to $4.53 per mmbtu. The Henry Hub future price (July delivery) remained unchanged on $4.58/mmbtu; as a result the gap between the spot and future price fell to $0.05, i.e. contango. During June, natural gas spot price (Henry Hub) declined by 1.8%.

Precious Metals prices:

Gold price continue to zigzag and nearly didn’t change yesterday and inclined by 0.12% to $1,526. Silver price remained unchanged on $35.41.

During June, gold prices decreased by 0.7% and silver price fell by 7.6%.

The EURO/ USD fell very sharply yesterday by 1.79%, as the USD appreciated against the EURO. During June the EURO/USD lost 1.5% 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 15

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