Crude oil prices plummeted yesterday as the US dollar strengthened against major currencies including Euro and Canadian Dollar. Natural gas spot price also followed and fell; gold and silver prices didn’t change much.
Here is a summary of the price movements of precious metals and energy commodities for June 15h:
Oil and Gas prices:
WTI Spot oil price fell precipitately yesterday by 4.59% and reached $94.81 per barrel – the lowest price level since February 22nd 2011; during June the WTI spot oil price fell by 7.7%.
Brent spot price also sharply declined yesterday by 4.53% to $114.12 per barrel.
As a result, the difference between Brent and WTI moderately declined and reached $19.31.
Natural gas price (Henry Hub spot) also decreased to $4.53 per mmbtu. The Henry Hub future price (July delivery) remained unchanged on $4.58/mmbtu; as a result the gap between the spot and future price fell to $0.05, i.e. contango. During June, natural gas spot price (Henry Hub) declined by 1.8%.
Precious Metals prices:
Gold price continue to zigzag and nearly didn’t change yesterday and inclined by 0.12% to $1,526. Silver price remained unchanged on $35.41.
During June, gold prices decreased by 0.7% and silver price fell by 7.6%.
The EURO/ USD fell very sharply yesterday by 1.79%, as the USD appreciated against the EURO. During June the EURO/USD lost 1.5% of 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 –June 2011