If you’re a trader, then investing in commodities is one of the most profitable options nowadays.
Not only this, it is also a great source to generate long-term revenue in the future. More than 120 different commodities are available to trade in the U.S only.
However, there are many factors that affect the prices of commodities today. One of the biggest factors at the moment is the global events, especially the conflicts between two powerful nations that fulfills the 70% of the world’s oil needs. The Ukraine-Russia war has caused havoc in the world and everything is being affected by it, especially energy based commodities.
Let’s discuss the current prices of commodities as of 13th April.
Table of contents
Daily Prices of Commodities in the Market
1 – WTI Oil
One of the best naturally occurring commodities in the world is West Texas Intermediate (WTI) oil.
At the time of writing, it stands at a high rate of 102.08 USD per Barrel. In the last 7 days, its price was at 94.29 USD per Barrel.
Moreover, the price chart has leveled up to 1.69% from the last day and is expected to increase further. The increased price is due to the S&P GSCI index of global raw materials
2 – Brent Crude Oil
Another refined form of petroleum is Brent crude oil. Currently, its price is at 106.75 USD per Barrel with an increase of 2.78% from the last week.
In addition, Brent oil has undergone a 1.96% price change since the last day and can break further records at the end of this year.
3 – Natural Gas
With a current price of 6.84 USD per MMBtu, natural gas is being used for various applications. In the last 7 days, its price chart was at 6.64 USD with a 2.49% increase from the last 24 hours and 52.4% in last month. The increased prices are due to the inflation in emerging countries.
4 – Gold
Do you know which is the most valuable commodity worldwide? Yes, Gold is the one.
With a current value of 1979.98 USD per Troy Ounce, it has increased to 0.67% in the last day. The continuous increase in the price of Gold is because of the exceptional moves in commodities after the Ukraine-Russia War.
5 – Silver
Another top-rated commodity, well known for its precious nature and high store value is silver. In today’s price chart, it stands at 25.81 USD per Troy Ounce.
In the last month, it has increased to 1.69% and is widely used in different applications including photographic films.
Final Thoughts
In the end, one thing that matters is your time and trading capacity. In this way, you can build your investment portfolio and make good long-term revenue.
For those who are new to the commodity market, remember to be patient and invest in the right asset at the right time. Doing so, you’ll achieve better results and more trading knowledge.
