The week has ended with crude oil prices declined again along with natural gas spot prices (Henry Hub); gold and silver prices, on the other hand, closed the week with a moderate rise.
Here is a summary of the price movements of precious metals and energy commodities for June 17th:
Oil and Gas prices:
WTI Spot oil price closed the week with a fall of 2.04% and reached $93.01 per barrel; during June the WTI spot oil price fell by 9.4%.
Brent spot price also declined yesterday by 0.73% to $113.49 per barrel.
As a result, the difference between Brent and WTI moderately inclined and reached $20.48.
Natural gas Henry Hub future price (July delivery) also fell sharply by 1.81% to $4.33 per mmbtu. The Henry Hub spot price fell by 3.09% to close the week at $4.39/mmbtu; as a result the gap between the spot and future price rose to -$0.06, i.e. backwardation. During June, natural gas spot price (Henry Hub) declined by 5.2%.
Precious Metals prices:
Gold price moderately inclined by 0.60% to $1,539. Silver price also rose by 0.53% to $35.75.
During June, gold prices increased by 0.1% and silver price fell by 6.7%.
The EURO/ USD bounced back and rose by 0.72%, as the USD depreciated against the EURO. During June the EURO/USD lost 0.6% 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):
[ratings]
For further reading:
Monthly Analysis and Outlook:
- Natural gas prices outlook for June 2011
- Gold and silver prices outlook for June 2011
- Oil prices Monthly outlook –June 2011