The week started off at the opposite direction from where it ended as oil prices declined precipitately. The precious metals prices ended the day with little changes; and natural gas spot prices (Henry Hub) continued to fall.
Here is a short summary of the price changes in major energy commodities and precious metals for April 11th:
Oil and Gas prices:
Crude oil price (WTI spot) declined yesterday by 2.54% and reached 109.92$/b, thus nearly erasing price hike from Friday, April 8th.
Brent spot price also fell by 2.93% to reach 123.03$/b.
As a result, the difference between Brent and WTI declined to 13.11$/b.
Natural gas spot price (Henry Hub) declined for the fourth straight day, yesterday by a 0.99% to reach 4.02$/mmbtu.
The Henry Hub future price on the other hand bounced back from its falls during last week and rose by 1.73% to reach 4.04$/mmbtu, resulting in the spread between future and spot price reaching to 0.09$/mmbtu, i.e. contango.
Precious Metals prices:
Gold prices didn’t change much yesterday as it moderately declined by 0.41% and reached 1,468$; silver prices also didn’t change and remained at 40.61$ – its highest price level in over thirty years. During April, gold prices increased by 2.7%, and silver prices by 7.6%.
EURO/ USD moderately changed and decreased as the USD appreciated yesterday by -0.32%.
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):
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?