June continues to present no clear trend in the commodities market as crude oil price (WTI spot oil) remain around the $100 mark, gold and silver prices also remain around their price level of $1,500 and $36-37 mark, respectively.
Here is a summary of the main price changes in energy commodities and precious metals for June 2nd:
Oil and Gas prices:
Spot oil price (WTI) moderately inclined yesterday by 0.1% as it reach $100.40 per barrel; during June the WTI spot oil price fell by 2.2%.
Brent spot price on the other hand declined yesterday by 0.31% and reached $115.79 per barrel.
As a result, the difference between Brent and WTI inclined to $15.39.
Natural gas price (Henry Hub future – July delivery) continues its rally and inclined by 3.69% to $4.80 per mmbtu – the highest price level since August 5th, 2010. The Henry Hub spot price also increased yesterday by 0.22% to $4.63 per mmbtu; as a result the gap between the spot and future price inclined to $0.17 mmbtu, i.e. contango.
Precious Metals prices:
Gold price continue to zigzag with no clear trend as it declined yesterday by 0.68% to reach $1,532. Silver price also declined by 3.96% and reached $36.20.
During June, gold prices decreased by 0.3% and silver price fell by 5.5%.
The EURO/ USD bounced back after it fell the day before yesterday; yesterday it inclined by 1.13%, as the USD depreciated against the EURO. During June the EURO/USD gained 0.7% 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 for June 2011
- Oil prices Monthly outlook –May 2011