Owing to the global energy crises, commodity prices are going through a lot of price fluctuation these days.
Out of the geopolitical and other economic factors, some commodities like energy and non-energy commodities are rising from their previous rates. However, some other important commodities like gold and silver have been going through a downfall for the past couple of days.
So, let’s discuss today’s price chart of different top trading commodities and evaluate each of them in detail below.
1- WTI Oil
When the Ukraine Russia war started, the global trading community was affected a lot. The US oil companies are still trying to rebuild the export-import price rates.
Moreover, by looking at the price charts, we can further dictate that WTI Oil currently stands at 97.28 USD per barrel with a huge decrease of 4.36% from the last 24 hours.
At the time of writing, the oil price has decreased by 3.39% in the last 7 days, showing its rapid decline rate.
2- Brent Crude oil
The Brent crude oil price has decreased due to the slowing demand in China. The country has been in the state of shutdown from the past days which resulted in the low rates of Brent oil.
This caused a huge impact on the oil prices and currently, it stands at a rate of 100.82 USD per Barrel in the market. The current price is with a significant decrease of about 5.07% at the time of writing and has decreased 4.02% in the last 7 days.
3- Natural Gas
With a current price of 6.41 MMBtu, natural gas is still on the list of top 3 commodities. Despite its downfall of 0.93% in the last 24 hours, the price is expected to increase in the last few days.
In addition, if we look at the price chart from the last 7 days, it shows a whopping 7.36% increase from the current price which is a significant gain in value.
At the moment, gold prices stand at 1917.15 USD per ounce with a decrease of 0.70% in the last 24 hours. Along with the massive price fluctuation of other top-ranking commodities, the gold price is also going through a downfall for a couple of days.
In the last 7 days, this commodity has experienced a 1.70% decrease from the current price while there is a decrease of 2.45% observed over the past 30 days.
In the price chart, silver shows a 23.73 USD per Troy ounce price rate. This is with a decrease of 1.41% in the last 24 hours and a slight increase in the prices in the last few days.
By analysing the price chart further, you can see that silver is progressing slowly in the commodity market with the increase of 1.99% over the past 7 days.
In the end, the current prices of almost all top 5 commodities are going through a downfall and have experienced a cut down from their previous rates. However, oil, gas, and other commodities are expected to level up again in the upcoming days.
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