The week opens with crude oil prices bouncing back

After the crash of most of the major commodities at the end of last week due to speculation, this includes the crude oil price dropping by more then three percent, the third week of November started with a somewhat expected rise as most commodities bounce back and the market show a slow and steady recovery. That being said, natural gas prices is still dropping, however there is still time for this commodity to do a comeback as well and to climb as the week will progress.


Here are the prices and a description of the fluctuations of the major energy commodities as of Today, November 15th. I have included the time of quoting the prices:

The crude oil price of futures for December 2010, as of 15.37PM GMT, on the New York Mercantile Exchange (Nymex), is at 85.33 USD per barrel, which represents a 0.45 dollar increase or a 0.53% incline.

The WTI spot price is trading as of 14.05PM GMT at 85.49 USD per barrel, a decrease of 0.72% compare to the previous business day’s rate, i.e. the closing of last week.

The Brent spot crude oil price reached 86.50 USD per barrel – a 0.95 $/b increase as of 15.47PM GMT.

The Natural Gas prices continue to fall after it dropped substantially  last week and currently the Nymex Henry Hub Future for December 2010 is now being traded, is as of 15.37PM GMT, at 3.74$ MMBTU (one million BTU) which is a 1.58% decrease or 0.06 in $ MMBTU.