In November 2015, oil prices edged down anewPrices of oil and raw material imports - November 2015

In November 2015, the crude oil price in euros fell back (–3.3% after +1.7% in October). Standing at €41.4 on average per barrel of Brent, this price tumbled by 34.1% compared to its level in November 2014 (€78.4). Prices in euros of the other imported commodities declined again (–0.8% after –1.4%): this decrease was due to industrial raw materials (–2.1%), while prices of raw food materials kept climbing (+0.7%).

In November 2015, the crude oil price in euros fell back (–3.3% after +1.7% in October). Standing at €41.4 on average per barrel of Brent, this price tumbled by 34.1% compared to its level in November 2014 (€78.4). Prices in euros of the other imported commodities declined again (–0.8% after –1.4%): this decrease was due to industrial raw materials (–2.1%), while prices of raw food materials kept climbing (+0.7%).

Oil prices in euros declined

The price of crude oil from the North Sea (Brent) in euros edged down (–3.3% after +1.7%), the yield and stock levels remaining high to a weak demand. The downturn was more marked in dollars (–7.7% after +1.9%) because the euro depreciated in November.

Prices of industrial raw materials went down again

Prices of industrial raw materials in euros dropped again (–2.1% after –2.9%), driven down by minerals (–3.8%). On the other hand, prices of agricultural raw materials accelerated (+3.4% after +1.0%).

Prices of minerals decreased again (–3.8% after –3.9%), mainly on account of a new downfall in iron ore prices (–8.3% after –6.7%) and of a substantial decline in prices of precious metals (–5.2% after +5.2%), in particular platine (–11.5%) and palladium (–15.6%), used in the industrial sector. Prices of non-ferrous metals came down as well (–3.0% after –4.2%), in particular industrial metals such as copper (–6.2%), whose output continued to rise, and nickel (–6.5%), for which the Chinese demand remained low.

Prices of agricultural raw materials accelerated (+3.4% after +1.0%; –1.0% year-on-year). In particular, prices of sawn softwood increased again (+5.0% after +5.2%). Prices of tropical wood picked up (+3.9% after –0.2%).Those of wood pulp recovered as well (+3.7% after –1.2%)

Prices of raw food materials kept rising

Prices of raw food materials in euros went up almost as much as in October (+0.7% after +0.8%). The price of sugar slowed down albeit still increasing sharply (+10.3% after +24.8%). Prices of robusta accelerated (+4.7% after +0.6%), due to a dry period in Indonesia, one of the world's main producers. However, the price of beef meat edged down (–3.7% after +3.7%), as a result of a lower demand in the USA. The price of tea fell back too (–5.4% after +5.4%).

tabpetrole – Oil and petroleum products

in euros
Oil and petroleum products
Prices Change (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 44.4 –7.7 –5.5 –43.4
Brent in € per barrel 41.4 –3.3 –1.8 –34.1
Gasoline €/L 0.31 0.0 –22.6 –25.1
Gas Oil 406.2 –0.4 –2.4 –28.4
Heavy fuel 219.7 –2.9 –2.8 –32.9
Naphtha 392.4 1.2 5.2 –22.1
  • Prices are in euros per tonne unless otherwise specified
  • Source : INSEE

tabmatprem – Imported raw materials (excluding energy) in euros

base 100 in 2000
Imported raw materials (excluding energy) in euros
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 214.2 0.7 –3.2 2.8
Tropical foodstuffs 228.2 5.7 6.0 21.1
Oil seeds, vegetable oils 227.6 –2.6 –9.5 –6.0
Cereals 150.9 2.2 0.6 3.6
Sugar 155.5 10.3 44.8 9.1
Beef meat 153.8 –3.7 –12.8 –7.7
Industrial raw materials 141.1 –2.1 –4.5 –13.8
Agricultural raw materials 110.7 3.4 –0.2 –1.0
Natural Fibres 123.8 5.4 0.3 18.8
Natural rubber 120.3 –3.6 –12.1 –30.5
Hides 73.8 –1.9 –0.4 –29.7
Wood pulp 104.0 3.7 0.8 2.5
Tropical wood 118.2 3.9 1.2 12.2
Sawn softwood 87.4 5.0 0.7 –9.6
Minerals 158.1 –3.8 –5.8 –17.4
Iron ore 318.8 –8.3 –13.5 –26.5
Non-ferrous metals 133.3 –3.0 –4.9 –18.3
Precious metals 216.5 –5.2 –2.3 1.3
All commodities 161.7 –0.8 –4.0 –6.5
  • Source : INSEE

G_petrole_ang – Oil (Brent)

  • Source : Insee

G_alim_ang – Food

  • Source : Insee

G_ensemble_ang – Imported raw materials (excluding energy)

  • Source : Insee

G_indus_ang – Industrial raw materials

  • Source : Insee