Yesterday there were moderate falls across the boarder: Crude oil price WTI and Brent oil declined, as the gap between the two commodities’ prices continue to close; gold and silver prices also declined for the first time this week, and natural gas spot price inclined while Henry Hub future closed the day on a fall.
Let’s review the main changes in major energy commodities market and precious metals for March 8th:
Oil and Gas prices:
Crude oil price (WTI spot) fell yesterday by 0.4% as it reached 105.02$/b – which is still a high level in the past couple of years.
Brent spot price declined yesterday by 1.93% to reach 112.67$/b – the lowest level since the beginning of the month. Brent oil completed a total decline of 2% fall this week so far.
As a result the spread between the Brent oil and WTI declined yesterday to 7.65$/b – the smallest spread since January 19th.
Natural gas spot price (Henry Hub) inclined by 3.23%, to reach 3.83$/mmbtu, while the Henry Hub future fell by 1.53% to reach 3.87$/mmbtu.
Precious Metals prices:
Gold price declined yesterday by 0.51%, while silver prices declined by 0.58%.
EURO/ USD declined yesterday by 0.45%. 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 8th, 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):
- Natural gas prices outlook– 8 March
- Oil prices outlook – 8 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