The disappointing U.S. labor report was published yesterday and presented that only 54,000 jobs were created. This news caused some stir up in the financial markets, but didn’t affect much major commodities.
Here is a summary of the main price changes in energy commodities and precious metals for June 3rd:
Oil and Gas prices:
Spot oil price (WTI) moderately declined yesterday by 0.18% and reached $100.22 per barrel; during June the WTI spot oil price fell by 2.4%.
Brent spot price on the other hand rose yesterday by 0.09% and reached $115.90 per barrel.
As a result, the difference between Brent and WTI inclined to $15.68.
Natural gas price (Henry Hub spot) rose again by 1.87% to $4.72 per mmbtu. The Henry Hub future price (July delivery) lost some of its value as it fell by 1.87% to $4.71 per mmbtu; as a result the gap between the spot and future price declined to -$0.01 mmbtu, i.e. backwardation.
Precious Metals prices:
Gold price continue to zigzag with no clear trend as it bounced back yesterday by 0.63% to reach $1,542. Silver price nearly didn’t change ad it declined by 0.03% and reached $36.19.
During June, gold prices increased by 0.4% and silver price fell by 5.5%.
The EURO/ USD continued its rally; yesterday it inclined by 0.99%, as the USD depreciated against the EURO. During June the EURO/USD gained 1.7% 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