Crude oil changed direction and after oil prices sharply rose during last week, this week started with oil prices declining; gold price also slipped, while silver slightly increased; natural gas future prices sharply rose yesterday. The Euro slightly depreciated again against the US Dollar while other major currencies (e.g. Aussie dollar) rose against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 27th, 2012:
Gold price slightly decreased on Monday by 0.08% to $1,774.9; Silver price on the other hand slightly rose by 0.52% and reached $35.60. During February, gold increased by 2.0% and silver by 7.04%.
The Euro/USD declined by 0.39% to 1.3397; the U.S Dollar depreciated against other exchange rates such as the Aussie dollar.
Oil and Gas:
WTI price also sharply decreased by 0.85% to $108.56 per barrel; Brent oil fell by 1.5% to $124.75 per barrel;
Due to these changes, the difference between Brent and WTI oil prices decreased to $16.19/bbl. During the month, WTI rose by 10.2% and Brent by 12.5%.
The Henry Hub future price (March delivery) sharply rose by 1.96% to $2.60/mmbtu; the Henry Hub declined to $2.55/mmbtu; the difference between the spot and future reached $0.05/mmbtu, i.e. Contango.
A Summary of Changes for February 27th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: