Major commodities bounced back yesterday after they had fallen during most of the week.
Here is a summary of the main price changes in commodities and precious metals for May 18th:
Oil and Gas prices:
Spot oil price (WTI) bounced back yesterday by 3.84% and reached 100.12$/b; during May the WTI spot oil price fell by 11.7%.
Brent spot price also inclined by 2.86% and reached 112.52$/b.
As a result, the difference between Brent and WTI declined to 12.42$/b.
Natural gas price (Henry Hub spot) on the other hand decreased by 2.35% and reached 4.15$/mmbtu.
The Henry Hub future price increased by 0.48% to 4.20$/mmbtu; as a result the spread between future and spot price declined to 0.05$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price also bounced back and increased yesterday by 1.07% and reached 1,495$.
Silver price also rose by 4.8% to end at 35.10$.
During May, gold prices decreased by 3.9% and silver price fell by 27.8%.
The EURO/ USD kept on rising yesterday by 0.08%, as the USD depreciates against the EURO. During May the EURO/USD lost 3.8% 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):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Oil prices Monthly outlook –May 2011