Oil and gas prices bounced back –June 28

Crude oil prices (WTI and Brent spot oil) bounced back and inclined yesterday; gold and silver prices also inclined but very moderately; natural gas spot price kept on rising as well.

Here is a summary of the price movements of precious metals and energy commodities for June 28th:

Oil and Gas prices:

WTI Spot oil price inclined by 2.52% to $92.89 per barrel; during June the WTI spot oil price fell by 9.6%.

Brent spot price also rose by 2.17% to $108.69 per barrel.

Despite these rises the difference between Brent and WTI almost didn’t change and settled yesterday on $15.80.

Natural gas Henry Hub future price (July delivery) rose again by 2.11% to $4.35/mmbtu. The Henry Hub spot price increased by 2.59% to $4.36/mmbtu; the gap between the spot and future price fell to -$0.01, i.e. backwardation. During June, natural gas spot price (Henry Hub) declined by 5.8%.

Precious Metals prices:

Gold price inclined yesterday by 0.25% to $1,500. Silver price also moderately rose by 0.16% to $33.65.

During June, gold prices decreased by 2.4% and silver price fell by 12.1%.

The EURO/ USD inclined yesterday by 0.59%, as the USD depreciated against the EURO. During June the EURO/USD didn’t change compared with its level at the beginning of the month.

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 prices, Natural gas spot price, Current Gold and Silver prices 2011 June 28


For further reading:

Monthly Analysis and Outlook: