Oil prices continued their rally – April 7

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):

Current Crude oil price, Natural gas spot price, Gold prices Silver prices April 7


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Monthly Analysis and Outlook: