Oil prices falling to start the week – daily recap January 24

The penultimate week of January starts off with crude oil price (WTI and Brent) decreases, the same goes for silver prices, while gold price moderately rise; natural gas spot price (Henry Hub) remain unchanged while future price and NY city gate sharply decline.

Here is a daily recap for January 24th of the main price changes in major energy commodities and precious metals:

Oil and Gas prices:

Crude oil price (WTI spot) continues to fall for the fifth straight business day, yesterday it declined by 1.47% as it settled on 86.67 $/b; WTI future price declined by 1.39% and reached 87.87$/b; and finally, Brent oil price also decreased, yesterday  by 1.02% and reached 95.96 $/b.

Currently, the gap between the Brent oil and WTI is nearly 9.29$/b. And the gap between WTI future price and spot price is 1.2$/b – the largest gap all month of January.

Natural gas spot price (Henry Hub) remains unchanged on 4.73 USD/MMBTU.

The Nymex Henry Hub Future Price (futures for February) changed direction from last week as it fell yesterday by nearly 3.38% and settled on 4.58 USD/MMBTU.

The demand for natural gas in the East coast probably dropped as the NY city gate natural gas spot price declined yesterday by 58.38%.

Precious Metals prices:

Gold prices moderately inclined yesterday by 0.26% and reached 1,344 $/t oz.

Silver prices, unlike gold prices, fell yesterday by 0.39% and reached 27.32$/t oz.

EURO/ USD moderately rose yesterday by 0.12%, while the USD strengthened against the CAD, as the USD/ CAD inclined by 0.04%. For a more detailed report on the EURO/USD check out Forex crunch.

A summary of yesterday’s Prices Changes:

The following table presents the main descriptive data from last business day – January 24th, 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):

Natural gas spot price, Crude oil price, current Gold prices Silver prices January 24

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