Oil and gas prices finished May with rises –May 31

The month of May finished with rises in the major energy commodities including crude oil and natural gas, while precious metals experienced moderate changes.

Here is a summary of the main price changes in energy commodities and precious metals for May 31st:

Oil and Gas prices:

Oil price (WTI) finished the month of May and it increased by 2.10% to reach 102.70 USD/b; during May the WTI crude oil price fell by 9.4%.

Brent oil price also inclined yesterday by 1.34% and reached 116.73 USD /b.

As a result, the difference between Brent and WTI declined to $14.03.

Natural gas price (Henry Hub spot) also finished the week on a rise as it inclined by 6.19% and reached 4.63 USD/mmbtu – the highest price level in May. The Henry Hub future price also increased sharply by 3.32% to 4.67 USD/mmbtu – – the highest price level since May 3rd; as a result the spread between future and spot price reached 0.04 USD/mmbtu, i.e. contango.

Precious Metals prices:

Gold price finished May with a very moderate fall of 0.03% as it closed the day at $1,536. Silver price on the other hand declined by 1.17% and reached $38.31.

During May, gold prices decreased by 1.3% and silver price fell by 21.2%.

The EURO/ USD continued to rise for the third straight business day; yesterday it rose by 0.54%, as the USD depreciated against the EURO. During May the EURO/USD lost 2.8% 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):

Crude spot oil price, Natural gas spot price, Current Gold price Silver prices 2011 May 31


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