Here is a quick daily summary for yesterday, December 10th for Major Commodity daily prices:
Yesterday major commodities showed a drop in their prices not only in energy commodities but also in Gold prices and Silver prices. Bloomberg claims that this is due to China’s fight on inflation (China one of the biggest consumer of metals and energy commodities), which means it reduces the expected consumption in major commodities such as crude oil and Gold.
After a couple of days ago when the Natural gas prices –New York City Gate Spot, rose by 61%, yesterday and the day before it, the price fell, by 9.2% and 23%, respectively and settling on 5.99 $ MMBTU.
This last couple of days’ correction in the NY spot price goes to show that it appears to be more a speculative maneuver then backed up by actual demand.
Natural gas prices showed much moderate fluctuations as the Nymex Henry Hub Future Prices (futures for January) declined by 3.7%, while and Henry Hub Spot rose by 0.9%.
Crude oil prices continue to drop with WTI crude oil prices falling by 0.66%, and settled at 87.79 USD/b while Brent crude oil falling but still hovering above the 90 USD/b marks, declined by 0.42% to settle at 90.16 USD/b.
Precious metals prices (e.g. Gold prices) continue to be inconsistent in its prices fluctuations, in particular, yesterday Gold prices declined by 0.6% while Silver prices fell by 0.7%.
And finally, the EURO/ US dollar continue to zigzag this time it decreased by 0.1% as the USD strengthens compare to the Euro.
In the following table are the main descriptive data from last business day – December 10th including: settled prices, the daily percent change compare to previous business day, and the quantitative change in US dollars of each of these prices and exchange rates (except for USD/CAD, in which the change is in Canadian dollars):
For further reading:
- Closing the week of an unstable Energy market – news update for December 10th
- Is it the season of the Natural gas prices rise? – Examining the seasonality in Natural gas prices
- A monthly recap of Natural gas prices and Crude oil prices for November 2010
- Goodness gracious great ball of… Natural gas – Gas on the rise– news update for December 9th