The major commodities started off the week with crude oil prices falling (WTI spot oil and Brent oil), along with silver and gold prices.
Here is a summary of the main price changes in commodities and precious metals for May 16th:
Oil and Gas prices:
Spot oil price (WTI) declined yesterday by 2.29% and reached 97.37$/b; during May the WTI spot oil price fell by 14.1%.
Brent spot price also declined by 2.64% and reached 110.79$/b.
As a result, the difference between Brent and WTI declined to 13.42$/b.
Natural gas prices (Henry Hub spot) on the other hand inclined by 2.68% and reached 4.21$/mmbtu.
The Henry Hub future price increased by 1.65% to 4.32$/mmbtu – the highest price since May 4th; as a result the spread between future and spot price declined to 0.11$/mmbtu, i.e. contango.
Precious Metals prices:
Gold price moderately decreased yesterday and finished the day at 1,490$, a 0.2% decline.
Silver price also fell by 2.52% to end at 34.132$.
During May, gold prices decreased by 4.2% and silver price fell by 29.8%.
The EURO/ USD bounced back and rose yesterday by 0.26%, as the USD depreciates against the EURO.
For a more detailed report on major currencies, check out Forex crunch.
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):
[ratings]
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Oil prices Monthly outlook –May 2011