Crude oil prices continued their rally as they inclined yesterday following the decision of OPEC not to raise oil quota. On the other hand, bullion gold prices fell for the second straight day.
Here is a summary of the price movement in energy commodities and precious metals for June 8th:
Oil and Gas prices:
WTI Spot oil price continued its rally and inclined yesterday by 1.67%% and reached $100.74 per barrel; during June the WTI spot oil price fell by 1.9%.
Brent spot price also inclined yesterday by 0.64% and reached $117.43 per barrel.
As a result, the difference between Brent and WTI declined to $16.69.
Natural gas price (Henry Hub spot) remained unchanged on $4.83 per mmbtu. The Henry Hub future price (July delivery) rose by 0.41% to $4.85 per mmbtu; as a result the gap between the spot and future price inclined to $0.02, i.e. contango. During June, natural gas spot price (Henry Hub) inclined by 4.3%.
Precious Metals prices:
Gold price fell for the second straight day, yesterday by 0.34% o as it finished the day at $1,538. Silver price also followed and fell by 1.15% and reached $36.62.
During June, gold prices increased by 0.1% and silver price fell by 4.4%.
The EURO/ USD continue to zigzag and declined yesterday by 0.74%, as the USD appreciated against the EURO. During June the EURO/USD gained 1.3% 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):
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