Natural gas spot price (Henry Hub) continues to show weakness, as I have referred to before. Yesterday, it fell by a moderately 0.45%. For the entire month, up to yesterday, the price fell by nearly 3%.
Due to the cold snowy weather in the Northeast, the NY city gate natural gas spot price keeps on rising. After rising on Monday by over 18%, it rose yesterday by over 8%. In total, this commodity price has risen by over 44% from the beginning of the month up to yesterday.
Nymex Henry Hub Future Price (futures for February), after falling on Monday by 0.45%, it rose by 1.8%, reaching 4.448 $/MMBTU. Nevertheless, the Henry Hub future prices are still showing a decline of 3.7% for January.
Gold and silver prices after falling last week by over 3.8% and 7.9%, respectively, registered yesterday a rise of 0.74% and 2.2%, respectively.
Silver prices are nearing the 30 usd/t oz mark – a level it reached at the end of last month.
Crude oil price (WTI), as expected, increased yesterday for the second day, this time by 2.08% for WTI and 1.65% for Brent spot price.
Later on today the EIA (Energy Information Administration) will issue its weekly report on the US crude oil & petroleum related products (such as gasoline and propane) inventories and consumption of the passing week.
Last week’s EIA report showed a decline of 0.4% in crude oil stocks, which is a drop of over 6 million barrels of crude oil. As the winter progresses, we will probably continue seeing a decline in crude oil stocks (see here my previous review on crude oil stocks).
EURO/ USD continues to moderately rise for the second straight day, yesterday it rose by 0.17%; the USD, however, has strengthen against the YEN, as the USD/YEN rose by nearly 0.65%.
A summary of yesterday’s Prices Changes:
The following table presents the main descriptive data from last business day – January 11th, for precious metals, energy commodities and exchange rates. The table includes: settled prices, daily percent change, and quantitative change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
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