Crude oil prices continue to zigzag as they have decreased yesterday, following sharp gains they have recorded on Monday; Gold and silver prices on the other hand continue to rise; natural gas spot price (Henry Hub) declined again on Tuesday.
Here is a summary of the price movements of precious metals and energy commodities for August 16th:
Precious Metals prices:
Gold price sharply inclined yesterday by 1.54% to $1,785; Silver price also inclined by 1.3% to $39.85.
During August, gold prices increased by 9.4%, but silver price fell by 0.6%.
The EURO/ USD declined yesterday by 0.25%, as the USD appreciated against the EURO. During August the EURO/USD slightly rose by 0.1% compared to its initial level at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price continue to zigzag with no clear direction as it finished yesterday with a 1.4% drop to reach $86.65 per barrel; during August the WTI spot oil price declined by 9.5%. Brent spot price also slightly decreased by 0.2% to $109.55 per barrel.
Due to these changes, the difference between Brent and WTI slightly inclined to $22.90/bbl.
Natural gas Henry Hub future price (September delivery) declined by 1.99% to $3.94/mmbtu. The Henry Hub spot price also declined by 0.49% to $4.03/mmbtu; the gap between the spot and future price declined to -$0.09, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 5.4%.
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:
Monthly Analysis and Outlook: