Here is a weekly recap of the main occurrences vis-à-vis to the crude oil prices and natural gas prices for the week ending at November 19th:
I have added herein a table that summarizes the main changes that occur in the passing week between November 15th and 19th:
* This figure is calculated based on the percent change from the price at the beginning of the week compare to the price at the end of the week.
As the table above presents, the range of the price of WTI was between 84.88 $/b and 80.44 $/b – a range of 4.44 $/b. This fluctuation represents an increase in the level of volatility of the crude oil price compare to last week and also a decrease of nearly 5 USD/barrel in the average price of this week compare to last week. Most of the changes could be attributed to the macroeconomic news and speculations which include, among other, the speculation over China’s increase in its interest rates, and the bailout plans of the European Union to the current crisis in Ireland. In any case, if this news is the cause for this decline in crude oil price we should expect this fluctuation in prices to continue next week as these issues won’t be resolved by then.
On average, the spot price of WTI changed by -0.79% and its price decreased by 3.97% from the beginning to the ending of the week.
On the other hand, the table shows that on average Natural Gas prices (Nymex Henry Hub Future) finished on a steep rise with a 4.16 $/MMBTU mark and an average of 1.86% daily change. Nevertheless, the prices of natural gas throughout the week changed with out any clear trend with one day they rise while at the other they dropped.
Also, I have added two graphs that describe the main changes in WTI spot price, Europe Brent spot price and NYMEX future prices and compare their changes among them, there graphs include: a graph of the price change and a graph of percent change of these prices.
In the final graph it shows the crude oil prices daily percent change range between an almost 3 percent decline at the beginning of the week to nearly a 3 percent increase at the middle of the week while the week ended in a fall of nearly 2 percent.