Oil and gas prices keep on rising – March 22

The attacks of the allied forces led by US army are planed to continue against Qaddafi’s ground forces in Libya. In the mean time the victim toll in Japan due to the tsunami keeps on rising, but at least there is progress in containing the nuclear power plant. Yesterday, crude oil prices rose for the second straight day; natural gas spot price also rose along with gold and silver prices.

Let’s review the main price changes in major energy commodities and precious metals for March 22nd:

Oil and Gas prices:

Crude oil price (WTI spot) rose yesterday for the second straight day by 1.63% to 104$/b.

Brent spot price also increased by 1.23% to reach 115.83$/b.

As a result, the difference between Brent and WTI moderately fell to 11.83$/b.

Natural gas spot price (Henry Hub) after it started off the week with very moderate falls, it bounced back yesterday and rose by 1.5%, to reach 4.05$/mmbtu – the highest price level during March.

The Henry Hub future price also inclined by 2.16% to reach 4.25$/mmbtu – the highest price level in March, resulting in the gap between future and spot price to increase to 0.2$/mmbtu – the highest spread during this month.

Precious Metals prices:

Gold price inclined for the third straight business day, yesterday by a moderate rate of 0.08%, and silver prices also rose by 0.74%.- the highest prices level for March.

EURO/ USD fell yesterday by 0.21%. For a more detailed report on major currencies, check out Forex crunch.

A summary of yesterday’s Prices Changes:

The following table presents the main descriptive data from last business day – March 22nd, 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):

Crude oil price, Natural gas spot price, Gold prices Silver prices March 22

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