15 October 2015
2015- n° 253In September 2015, weakening oil prices were at a standstill Prices of oil and raw material imports - September 2015
In September 2015, the crude oil price fall in euros almost broke off (–0.3% after –16.8% in August). Standing at €42.1 on average per barrel of Brent, this price tumbled by 44.2% compared to its level in September 2014 (€75.5). Prices in euros of imported commodities except energy declined again (–1.8% after –3.4%) : this shrinkage was driven by the raw food materials (–4.6 %), while those of industrial raw materials increased (+0.4%),
In September 2015, the crude oil price fall in euros almost broke off (–0.3% after –16.8% in August). Standing at €42.1 on average per barrel of Brent, this price tumbled by 44.2% compared to its level in September 2014 (€75.5). Prices in euros of imported commodities except energy declined again (–1.8% after –3.4%) : this shrinkage was driven by the raw food materials (–4.6 %), while those of industrial raw materials increased (+0.4%),
Oil prices in euros decreased less sharply
As a result of a drop in output both in Saudi Arabia and in the United States, the price of crude oil from the North Sea (Brent) in euros stopped falling (–0.3% after –16.8%). It even bounced back slightly in dollars (+0.5% after –15.9%), as the euro appreciated against the American currency.
Prices of industrial raw materials picked up
Prices of industrial raw materials in euros picked up (+0.4% after –3.3%), mainly due to a rise in prices of minerals when the decrease in those of agricultural raw materials eased.
Prices of minerals recovered (+1.9% after -2.8%). In effect, prices of non-ferrous metals rallied (+2.4% after –4.0%), due to aluminum prices (+2.4% after –7.0%). On the other hand, prices of nickel dipped (–4.8%), as a result of a lower demand in China and very high levels of inventories. Zinc, mostly used in automotive and building industries dropped as well for the same reasons (–5.7%). Among precious metals, prices of platine slumped (–11.0% after +1.6%) following the controversial issue on diesel engines. Those of palladium bounced back (+8.1% after –2.9%). This metal was used in the making of gasoline engines. Prices of iron ore decelerated (+1.1% after +6.3%; –21.1% year-on-year).
Prices of agricultural raw materials went down again (–4.4% after –4.7%; –4.3% year-on-year). In particular, prices of natural rubber dropped again sharply (–10.4% after –16.0%).
Prices of raw food materials decreased again
Prices of raw food materials in euros came down again (–4.6% after –3.5%), in particular those of oil seeds and vegetable oils (–5.8% after –3.0%) and of cereals (–2.5% after –6.8%). Prices of cereals dipped due to rice (–5.2% after –4.2%), while those of corn recovered (+0.9% after –10.5%) and despite a slight rise in corn prices due to a tight supply. Prices of sugar bounced back (+5.2% after –11.2%), due to bad weather conditions in Brazil and in India.
tableautabpetrole – 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 | 47.2 | 0.5 | –24.3 | –51.5 |
| Brent in € per barrel | 42.1 | –0.3 | –24.2 | –44.2 |
| Gasoline €/L | 0,32 | –20.7 | –32.7 | –40.4 |
| Gas Oil | 419.3 | 0.8 | –18.9 | –35.0 |
| Heavy fuel | 221.6 | –1.9 | –32.0 | –49.5 |
| Naphtha | 367.6 | 1.4 | –18.9 | –44.1 |
- Prices are in euros per tonne unless otherwise specified
- Source: INSEE
tableautabmatprem – Imported raw materials (excluding energy) in euros
| Index | Changes (%) | |||
|---|---|---|---|---|
| of last month | over the last month | over the last 3 months | over the last 12 months | |
| Food total | 211.0 | –4.6 | –4.9 | 1.6 |
| Tropical foodstuffs | 215.5 | 0.1 | –1.9 | 11.1 |
| Oil seeds, vegetable oils | 237.0 | –5.8 | –0.4 | –7.8 |
| Cereals | 146.3 | –2.5 | –0.6 | 4.5 |
| Sugar | 113.0 | 5.2 | –3.6 | –10.8 |
| Beef meat | 154.1 | –12.7 | –18.1 | 3.7 |
| Industrial raw materials | 148.3 | 0.4 | –7.8 | –9.4 |
| Agricultural raw materials | 106.0 | –4.4 | –8.4 | –4.3 |
| Natural Fibres | 117.4 | –4.9 | –6.4 | 7.9 |
| Natural rubber | 122.6 | –10.4 | –30.8 | –30.2 |
| Hides | 77.6 | 4.8 | –19.2 | –23.7 |
| Wood pulp | 101.5 | –1.6 | –1.5 | 3.7 |
| Tropical wood | 114.1 | –2.3 | –1.3 | 8.3 |
| Sawn softwood | 79.1 | –8.8 | –15.8 | –20.7 |
| Minerals | 171.1 | 1.9 | –7.9 | –10.9 |
| Iron ore | 372.5 | 1.1 | –9.4 | –21.1 |
| Non-ferrous metals | 143.4 | 2.4 | –7.6 | –10.9 |
| Precious metals | 217.3 | –1.9 | –7.8 | –1.9 |
| All commodities | 165.3 | –1.8 | –6.3 | –4.3 |
- Source: INSEE
graphiqueG_petrole_ang – Oil (Brent)
- Source: INSEE
graphiqueG_alim_ang – Food
- Source: INSEE
graphiqueG_ensemble_ang – Imported raw materials (excluding energy)
- Source: INSEE
graphiqueG_indus_ang – Industrial raw materials
- Source: INSEE
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Time series : Raw materials prices
