The storm that attacked the east coast of the U.S. for the past couple of days with heavy snowfall and extreme cold weather also had its toll on the supply of natural gas for heating the major cities such as New York and New Jersey.
As a result, Natural gas spot price showed yesterday an extreme fluctuation, in particular, Natural gas spot price (New York City Gate Spot) after falling all last week by a total 31%, yesterday it bounced back by whopping 41% and thus settling on 10.2 $/MMBTU a 3 $/MMBTU rise. The New York City Gate Spot completed a total 119% rise for the month of December so far.
Contrary to the NY gate spot, the Natural gas spot price (Henry Hub Spot) experienced a small decline yesterday of 0.5%; and finally, the Nymex Henry Hub Future continue its zigzag behavior, and after decreasing at the end of last week by nearly 2%, yesterday it rose by 0.74%. As of yesterday, both of these energy prices fell by 5% for the month of December.
Yesterday, the Nymex Crude oil future price settled on 91 USD/b, a moderate 0.56% decline, however it’s still in its highest level in the past two years.
In regards to precious metals, after moderately falling last week, Gold prices experienced a moderate rise yesterday while Silver prices showed a moderate decline.
A summary of yesterday’s Prices Changes:
The following table presents the main descriptive data from last business day – December 27th including: 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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