As the turmoil in Japan progresses, so does the effect it has on the financial markets. Yesterday major energy commodities prices declined, including crude oil spot price. Gold and silver prices also fell for the second straight day, and natural gas spot price also fell sharply while the Henry Hub future price rose.
Let’s review the main changes in major energy commodities market and precious metals for March 15th:
Oil and Gas prices:
Crude oil price (WTI spot) fell yesterday by 3.96% as it reached 97.18$/b.
Brent spot price also declined by 5.01% to reach 107.8$/b – the lowest price during March.
As a result the difference between Brent and WTI fell to 10.62$/b – the lowest level since March 8th.
Natural gas spot price (Henry Hub) continues to zigzag as it declined by 2.31%, to reach 3.8$/mmbtu, while the Henry Hub future price rose by 0.77% to reach 3.94$/mmbtu. Thus the gap between future and spot price rose to 0.14$/mmbtu.
Precious Metals prices:
Gold price declined yesterday by 1.43%, while silver prices declined by 1.87%.
EURO/ USD fell yesterday by 0.35%. 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 15th, 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 – 15 March
- Gold & Silver Prices outlook –15 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