Crude oil price keeps on rising to its weekly high – March 17

On account of the ongoing uncertainty in Japan around the nuclear reactor and the radiations omitting from it along with the unease in the Middle East and North Africa, including Libya, Yemen and Bahrain, the fluctuations in the financial markets keeps on rising. Yesterday, the Brent oil and WTI (spot and future) crude oil prices rose precipitately. Natural gas spot prices didn’t change, but the Henry Hub future price rose very rapidly; gold and silver prices also fluctuated with gold rising and silver falling.

Let’s review the main price changes in major energy commodities and precious metals for March 17^th:

Oil and Gas prices:

Crude oil price (WTI spot) rose yesterday by 3.51% as it reached 101.42$/b – the highest level all week.

Brent spot price also increased by 4.22% to reach 114.81$/b.

As a result the difference between Brent and WTI rose to 13.39$/b – the highest level in two weeks.

Natural gas spot price (Henry Hub) continues to zigzag as it remained unchanged, while the Henry Hub future price rose by 5.58%to reach 4.16$/mmbtu – the highest level in March, resulting in the gap between future and spot price to rise to 0.31$/mmbtu.

Precious Metals prices:

Gold price inclined yesterday by 0.58%, while silver prices fell by 0.62%.

EURO/ USD rose yesterday by 0.87%. 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 17^th, 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):

[ratings]

For further reading (in this site):

Natural gas prices outlook for March 2011

Yearly Analysis and Outlook:

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