Major commodities finished the week on a high note – April 8

The week ended on a high note as major commodities including crude oil, gold and silver. For silver it even passed the 40 USD mark – its highest level since February 1980 (in London trade). On the other hand, natural gas spot price (Henry Hub) continued to decline for the third straight day.

Here is a short summary of the price changes in major energy commodities and precious metals for April 8th:

Oil and Gas prices:

Crude oil price (WTI spot) inclined yesterday by 2.26% and reached 112.79$/b.

Brent spot price also rose by 3.32% to reach 126.74$/b.

As a result, the difference between Brent and WTI inclined and reached 13.95$/b.

Natural gas spot price (Henry Hub) declined for the third straight day, yesterday by a 1.69% to reach 4.06$/mmbtu.

The Henry Hub future price also continued its freefall by 0.49% to reach 4.04$/mmbtu, resulting in the spread between future and spot price reaching to -0.02$/mmbtu, i.e. backwardation.

Precious Metals prices:

Gold prices inclined yesterday by 1.01% and reached 1,474$; silver prices also inclined by 2.67% and reached 40.61$ – its highest price level in over thirty years. During April, gold prices increased by 3.2%, and silver prices by 7.6%.

EURO/ USD bounced back and increased as the USD depreciated yesterday by 1.22%. This is mostly related to the ECB’s decision to raise its basic interest rate by 0.25% points; see here for more on this decision and its effect on major commodities.

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):

Current Crude oil price, Natural gas spot price, Gold prices Silver prices April 8


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