The attacks in Libya by the allied forces progresses, with no clear schedule on how long this operation will take place, and yet yesterday crude oil prices rose moderately and didn’t seem to react much to this news. Natural gas spot price moderately fell and gold and silver prices continue to increase.
Let’s review the main price changes in major energy commodities and precious metals for March 21st:
Oil and Gas prices:
Crude oil price (WTI spot) rose yesterday by 1.25% as it reached 102.33$/b.
Brent spot price also increased by 0.1% to reach 114.42$/b.
As a result the difference between Brent and WTI moderately fell to 12.09$/b.
Natural gas spot price (Henry Hub) started off the week with very moderate fall of 0.25%, to reach 3.99$/mmbtu.
The Henry Hub future price also declined by 0.24% to reach 4.16$/mmbtu – the second highest price level in March, resulting in the gap between future and spot price to remain at 0.17$/mmbtu.
Precious Metals prices:
Gold price inclined for the second straight business day, yesterday by 0.73%, and silver prices also rose by 2.69%.- the highest prices level since March 9th.
EURO/ USD rose yesterday by 0.31%. 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 21st, 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 – 18 March
- Gold & Silver Prices Outlook –21 March
- 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