Crude oil price continue it’s decent and it could be related to the weakness in the financial markets caused by the recent turmoil in Japan as a tsunami attacked the shores of Japan yesterday; gold and silver prices inclined, and natural gas spot price continued to zigzag as it closed the week with a fall while Henry Hub future rose.
Let’s review the main changes in major energy commodities market and precious metals for March 11th:
Oil and Gas prices:
Crude oil price (WTI spot) fell yesterday by 1.5% as it reached 101.16$/b – the lowest level all week.
Brent spot price also fell by 1.56% to reach 112.9$/b.
As a result the spread between the Brent oil and WTI closed a bit yesterday to 11.74$/b.
Natural gas spot price (Henry Hub) continues to zigzag as it declined by 1.81%, to reach 3.79$/mmbtu (its highest level all week), while the Henry Hub future price rose by 1.57% to reach 3.89$/mmbtu (its lowest level this week).
Precious Metals prices:
Gold price also continues to zigzag, as inclined yesterday by 0.66%, while silver prices declined by 2.48%.
EURO/ USD rose yesterday by 0.76%. 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 11th, 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):
For further reading (in this site):
- Oil prices outlook– 11 March
- Natural gas prices outlook– 9 March
- Tsunami attacked the shores of Japan
Yearly Analysis and Outlook:
- Crude oil price in 2010 and outlook for 2011
- Natural gas spot price in 2010 and projection to 2011
- Gold Prices Outlook for 2011 and Analysis of 2010