Oil and Natural Gas Prices Sharply Rose on Tuesday –Recap May 1st

The main energy Commodities prices sharply rose yesterday following the improvement in the manufacturing sector in the U.S according to the recent U.S PMI report. On the other hand gold and silver prices slightly decreased. Finally, the Euro edged down against the U.S. dollar for the second consecutive day; other currencies such as the Australian dollar also slipped vs. the USD.

Here is a summary of the daily shifts in precious metals and energy commodities for May 1st, 2012:

Precious Metals:

Gold price edged down by 0.11% to $1,662.4; Silver price also decreased by 0.28% and reached $30.93. During the week, gold declined by 0.1% and silver by 1.5%.

The Euro/USD also edged down by 0.03% to 1.3235; furthermore, the U.S Dollar also appreciated against other exchange rates such as the Australian dollar.

Energy Commodities:

WTI oil price bounced back by 1.23% to $106.16 per barrel; Brent oil traded down by 0.19% to $119.44 per barrel;

Following these changes, the difference between Brent and WTI oil prices reached $13.28/bbl. During the week, WTI rose by 1.23% while Brent oil declined by 0.2%.

The Henry Hub future (May delivery) increased again this time by 1.28% to $2.28/mmbtu; the Henry Hub spot price also rose to $2.29/mmbtu; the difference between the spot and future was $0.08/mmbtu, i.e. Contango.

A Summary of Changes for May 1st:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold price Silver Crude oil prices, Natural gas 2012 may 1

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