The week has ended with major commodities rising and thus crude oil and gold finished a week long of rises and falls and no clear trend.
Here is a summary of the main price changes in energy commodities and precious metals for May 20th:
Oil and Gas prices:
Spot oil price (WTI) increased yesterday by 1.07% and reached 99.49$/b; during May the WTI spot oil price fell by 12.3%.
Brent spot price also inclined by 0.89% and reached 112.78$/b.
As a result, the difference between Brent and WTI declined to 13.29$/b.
Natural gas price (Henry Hub spot) on the other hand decreased by 0.98% and reached 4.05$/mmbtu.
The Henry Hub future price rose very sharply by 3.17% to 4.23$/mmbtu; as a result the spread between future and spot price inclined to 0.18$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price also increased yesterday sharply by 1.11% and reached 1,508$.
Silver price finished at 35.09$ a drop of 0.44%.
During May, gold prices decreased by 3.1% and silver price fell by 27.8%.
The EURO/ USD changed direction and inclined sharply by 1.03%, as the USD appreciates against the EURO. During May the EURO/USD lost 4.4% 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