Major commodities prices continue to zigzag with no clear trend and they finished the week with declines.
Here is a summary of the price movement in energy commodities and precious metals for June 10th:
Oil and Gas prices:
WTI Spot oil price fell yesterday by 2.59%% and reached $99.29 per barrel; during June the WTI spot oil price fell by 3.3%.
Brent spot price also declined yesterday by 0.96% to $118.20 per barrel.
As a result, the difference between Brent and WTI rose to $18.91.
Natural gas price (Henry Hub spot) decreased to $4.72 per mmbtu. The Henry Hub future price (July delivery) gained 1.93% to its value to $4.76 per mmbtu; as a result the gap between the spot and future price rose to $0.04, i.e. contango. During June, natural gas spot price (Henry Hub) inclined by 1.9%.
Precious Metals prices:
Gold price ended the week falling by 0.88% at $1,529. Silver price also followed and fell by 2.93% and reached $36.33.
During June, gold prices decreased by 0.5% and silver price fell by 5.2%.
The EURO/ USD declined for the third straight day; yesterday it fell by 1.12%, as the USD appreciated against the EURO. During June the EURO/USD lost 0.3% to its value.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
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For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for June 2011
- Gold and silver prices outlook for June 2011
- Oil prices Monthly outlook –May 2011