After a somewhat promising start with small rises in crude oil prices, yesterday, November 15th the market ended with a much less zeal, in which most crude oil prices fell by a small fraction. There are some speculations over the reason for the decline of fuel price, some of which are claimed on Bloomberg.
On the other side, Natural Gas prices, which started the week with a fall, ended yesterday’s trading with a steady rise. According to Bloomberg, this speculative rise in price, after last week’s decline, is due to a speculative movement of hedge funds as they raise their bets on Natural Gas prices will rise in the near future.
Here is the current update about the main energy commodities prices as of today, November 16th. I have included the time of quoting the prices:
The crude oil price of short term futures, as of 14.43PM GMT, on the New York Mercantile Exchange (Nymex), is at 83.65 USD per barrel, which represents a 1.21 dollar decrease or a 1.43% drop.
The WTI spot price is trading as of 14.14PM GMT at 83.53 USD per barrel, a decrease of 1.57% compare to the previous business day’s rate.
The Dated Brent spot crude oil reached 84.97 USD per barrel – a 0.97 $/b decline as of 14.53PM GMT.
The Natural Gas prices is on a continuous rise, as it did yesterday, as it settled on 3.84$ MMBTU (one million BTU), a 1.05% increase. Today, the market opened with a rise and currently the Nymex Henry Hub Future price is traded, as of 14.41PM GMT, at 3.89$ MMBTU which is a 1.09% increase or 0.04 in $ MMBTU.