The second day of the week kept on showing rises in major commodities prices, including crude oil (WTI spot oil and Brent oil), gold and silver.
Here is a summary of the changes in commodities and precious metals for May 10th:
Oil and Gas prices:
Spot oil price (WTI) inclined yesterday by 1.3% and reached 103.88$/b; during May the WTI spot oil price fell by 8.4%.
Brent spot price also rose by 1.65% and reached 117.59$/b.
As a result, the difference between Brent and WTI inclined to 13.71$/b.
Natural gas prices (Henry Hub spot) on the other hand declined by 1.64% and reached 4.2$/mmbtu.
The Henry Hub future price increased by 2.41% to 4.25$/mmbtu, as a result the spread between future and spot price inclined to 0.05$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price increased yesterday and finished the business day at 1,516$, a 0.91% incline.
Silver price continues its comeback from last week’s freefall and rose yesterday by 3.69% to 38.49$.
During May, gold prices decreased by 2.5% and silver price fell by 20.8%.
The EURO/ USD also increased yesterday by 0.31%, as the USD depreciates against the EURO.
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):
[ratings]
For further reading (in this site):
- Gold & Silver Prices Outlook – 9 May
- Following the oil prices falls last week what’s up ahead? Oil outlook 9 May
- Weekly outlook for May 9-13