Crude oil prices started the week with moderate falls; gold price kept on rising, while silver price ended yesterday falling; natural gas price changed direction from last week and sharply inclined.
Here is a summary of the price movements of precious metals and energy commodities for July 11th:
Oil and Gas prices:
WTI Spot oil price fell yesterday by 1.09% to $95.15 per barrel; during July the WTI spot oil price declined by 0.3%.
Brent spot price also declined by 0.82% to $116.82 per barrel.
Due to these price changes the difference between Brent and WTI inclined to $21.67/bbl.
Natural gas Henry Hub future price (August delivery) inclined yesterday by 1.9% to $4.29/mmbtu. The Henry Hub spot price sharply increased by 4.06% to $4.36/mmbtu; the gap between the spot and future price fell to -$0.07, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 3.1%.
Precious Metals prices:
Gold price inclined for the fifth straight business day, yesterday by 0.49% to $1,549 – the highest price level since June 22nd. Silver price on the other hand decreased by 2.31% to $35.70.
During July, gold prices increased by 3.1% and silver price by 2.5%.
The EURO/ USD sharply declined by 1.65%, as the USD appreciated against the EURO. During July the EURO/USD fell by 3.3% compared with the rate at the beginning of the month.
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: