The prices of oil and raw materials decreased in FebruaryPrices of oil and raw material imports - February 2010

In February, oil prices fell by 3.4% after rising 2.4% in January. The price of barrel settled at $73.6. Compared to February 2009, it rose by 70.5%.

Informations rapides
No 66
Paru le : 05/03/2010

In February, oil prices fell by 3.4% after rising 2.4% in January. The price of barrel settled at $73.6. Compared to February 2009, it rose by 70.5%.

Prices for non-energy commodities imported by France declined also (-2.6% after +3.3% in January).

Oil prices decreased

In February, the price of oil from the North Sea (Brent) declined in dollars (-3.4% after +2.4% in January). The increases in U.S. inventories of gasoline and crude oil weighed on oil prices. In euros, the price increased slightly (+0.8%) due to the depreciation of the euro vis-à-vis the dollar (-4.2%).

Prices of industrial materials fell

In February, prices of industrial materials in foreign currencies decreased by 1.5% due to declining prices of minerals (-5.1%). Indeed, prices of non-ferrous metals declined (-5.7%), with the exception of nickel (+2.9%). Prices of precious metals all decreased (-3.8%).

In contrast, prices of agro-industrial materials rose (+8.9%), includind wood sawn coniferous (+5.7%).

Raw food materials prices continued to drop

In February, prices of raw food in foreign currencies continued to drop (-4.3% after –0.9% in January). Prices of tropical beverages declined (-8.3%) as a result of such? decline in/pulled by tea (-17.9 %) and cocoa (-8.9 %). Oilseeds prices declined further (-3.7 %), in conjunction with the falling prices of olive oil (-3.1 %) and soybean (-3.9 % for soybeans and -5.5 % for soybean meal). Prices of cereals decresead also (-5.7 %). Similary, the price of sugar declined (-6.3 %), due to better than expected production in India.

Revisions

As every year in March, weighting coefficients have been updated for the current year, leading to a revision of aggregate indices for the month of January. Thus, the overall index has been revised downwards 1.2% in January 2010.

tabpetrole – Oil and petroleum products

in dollar
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 73,6 –3,4 –4,0 70,5
Brent in € per barrel 53,8 0,8 4,7 59,7
Gasoline 685,7 –2,6 –1,5 67,4
Gas Oil 615,4 –2,6 –1,3 53,8
Heavy fuel 426,9 –3,6 –6,3 76,6
Naphta 677,7 –5,0 1,5 74,5
  • Prices are in dollars per tonne unless otherwise specified
  • Source: INSEE

tabmatprem – Imported raw materials (excluding energy) in foreign currencies

base 100 in 2000
Imported raw materials (excluding energy) in foreign currencies
Index Changes (%)
over last month over the last 3 months over the last 12 months
Food total 217,1 –4,3 –2,2 13,1
Tropical beverages 232,9 –8,3 –6,9 12,6
Oil seeds, vegetable oils 224,5 –3,7 –4,0 10,3
Cereals 227,7 –5,7 0,6 –1,8
Sugar 326,6 –6,3 16,8 104,4
Beef meat 129,7 2,4 5,6 5,2
Industrial raw materials 218,6 –1,5 8,2 62,4
Agro-industrial materials 150,0 8,9 20,4 63,0
Natural Fibers 163,0 1,9 9,9 49,4
Natural rubber 415,2 1,6 23,7 104,4
Hides 97,6 –1,4 5,2 85,0
Wood pulp 123,4 3,0 8,4 42,7
Tropical wood 130,0 –1,5 –5,0 –3,1
Sawn softwood 111,5 23,3 36,7 81,6
Minerals 252,9 –5,1 4,2 61,8
Iron ore 350,6 0,0 0,0 0,0
Non-ferrous metals 233,8 –5,7 4,2 77,9
Precious metals 326,4 –3,8 0,5 30,1
All commodities 212,5 –2,6 4,0 41,1
  • Source: INSEE

G_petrole_ang – Oil

  • Source: INSEE

G_alim_ang – Food

  • Source: INSEE

G_ensemble_ang – All commodities

  • Source: INSEE

G_indus_ang – Industrial raw materials

  • Source: INSEE