Major commodities prices started off the week on a positive note as crude oil prices and metals prices such as gold and silver sharply increased yesterday. Some consider this rally to be related with the recent news from EU regarding the approval of the second bailout package for Greece. Natural gas prices on the other hand sharply decreased yesterday. The Euro slightly depreciated against the US Dollar along with other major currencies (Canadian dollar) that also depreciated against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 21st, 2012:
Gold price sharply increased on Tuesday by 1.89% to $1,758.5; Silver price also rose by 3.66% and reached $34.50. During February, gold increased by 1% and silver by 3.72%.
The Euro/USD slightly slipped by 0.07% to 1.3234; the U.S Dollar appreciated against many exchange rates including the Canadian dollar.
Oil and Gas:
WTI price also sharply increased by 2.52% to $105.84 per barrel; Brent oil rose by 1.03% to $122.60 per barrel;
Due to these changes, the difference between Brent and WTI oil prices sharply decreased to $16.76/bbl. During the month, WTI rose by 7.5% and Brent by 10.5%.
The Henry Hub future price (March delivery) sharply decreased by 1.87% to $2.63/mmbtu; the Henry Hub also fell to $2.63/mmbtu; the difference between the spot and future was nullified.
A Summary of Changes for February 21st:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: