The same trend that was on Wednesday continued on yesterday, crude oil prices (WTI and Brent oil) inclined; gold and silver prices also continue to increase; natural gas spot price (Henry Hub) declined for the second straight day.
Here is a short summary of the price changes in major energy commodities and precious metals for April 7th:
Oil and Gas prices:
Crude oil price (WTI spot) inclined yesterday by 1.35% and reached 110.3$/b.
Brent spot price also rose by 0.61% to reach 122.67$/b.
As a result, the difference between Brent and WTI declined and reached 12.37$/b.
Natural gas spot price (Henry Hub) declined for the second straight, yesterday by a 1.2% to reach 4.13$/mmbtu.
The Henry Hub future price also continue to decline by 2.17% to reach 4.06$/mmbtu, resulting in the spread between future and spot price reaching to -0.07$/mmbtu, i.e. backwardation.
Precious Metals prices:
Gold prices very moderately inclined by 0.05% and reached 1,459$; silver prices also inclined by 0.42% and reached 39.552$. During April, gold prices increased by 2.1%, and silver prices by 4.8%.
EURO/ USD moderately decreased as the USD appreciated yesterday by 0.16%. 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):
- Gold & Silver Prices Outlook –6 April
- Crude oil prices outlook – 7 April
- Natural gas prices outlook– 7 April
Monthly Analysis and Outlook:
- Natural gas prices outlook for April 2011
- Crude oil prices Monthly outlook –April 2011
- Gold prices outlook for April 2011 – what’s next for gold?