The third business day of the May continued to show falls for major commodities including crude oil, natural gas, gold and silver as they have kept their plunge.
Here is a summary of the changes in commodities and precious metals for May 4th:
Precious Metals prices:
Silver price continued its freefall for the third straight day, yesterday by 7.51% to 39.39$ – this is the lowest price level since April 6th; gold price, also declined by 1.63% and reached 1,515$.
During May, gold prices decreased by 2.6% and silver price fell by 19%.
Oil and Gas prices:
Spot oil price (WTI) also declined for the third straight day, yesterday by 1.23% as it reached 109.24$/b; during May the WTI spot oil price fell by 3.7%.
Brent spot price also fell by 2.73% and reached 120.63$/b.
As a result, the difference between Brent and WTI inclined to 11.39$/b.
Natural gas spot price (Henry Hub) moderately declined yesterday by 0.22% and reached 4.59$/mmbtu.
The Henry Hub future price also decreased by 1.93% to 4.58$/mmbtu, as a result the spread between future and spot price declined to -0.01$, i.e. backwardation.
EURO/ USD increased very moderately by 0.01%, as the USD depreciates against the EURO.
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
- Crude oil prices Monthly outlook –April 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?