After crude oil price fell during last week, as the turmoil in Japan was in the background along with the ongoing Libyan riots, yesterday the market closed with no real change for the WTI spot oil and a small gain for Brent oil; gold and silver prices also had moderate changes, and natural gas spot price rose sharply and closed the gap from the Henry Hub future price.
Let’s review the main changes in major energy commodities market and precious metals for March 14th:
Oil and Gas prices:
Crude oil price (WTI spot) didn’t change much yesterday with just a 0.03% rise as it reached 101.19$/b.
Brent spot price moderately rose by 0.52% to reach 113.49$/b.
As a result the difference between Brent and WTI rose a bit to 12.3$/b – the highest level since March 3rd.
Natural gas spot price (Henry Hub) opened the week with high gains as it inclined by 2.64%, to reach 3.89$/mmbtu, while the Henry Hub future price rose by only 0.51% to reach 3.91$/mmbtu. Thus the gap between future and spot price fell to 0.02$/mmbtu.
Precious Metals prices:
Gold price declined yesterday by 1.43%, and silver prices also fell by 3.25%.
EURO/ USD rose yesterday by 0.64%. 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 14th, 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 forecast – 14 March
- Natural gas prices forecast– 14 March
- Gold prices bounce back in February – what will be next?
- Natural gas prices outlook for March 2011
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