In February 2014, oil prices climbedPrices of oil and raw material imports - February 2014

In February, the price of crude oil in euro terms rose (+0.6%) at €79.5 per barrel of Brent. Prices of imported commodities except energy in euros went up as well (+0.2%), on account of a rise in food materials prices (+3.7%).

In February, the price of crude oil in euro terms rose (+0.6%) at €79.5 per barrel of Brent. Prices of imported commodities except energy in euros went up as well (+0.2%), on account of a rise in food materials prices (+3.7%).

Oil prices in euros came up

In February, the price of crude oil from the North Sea (Brent) in dollars climbed sharply (+1.0% after -2.8%), because of a very strong demand that entailed a fall in inventories and of continuing pressure on oil prices. In euros, the Brent price increase was less marked (+0.6% after -2.2%), due to a repeated appreciation of the euro against the dollar (+0.3%) in February.

Industrial raw materials prices weakened

In February, prices of industrial raw materials in euros went down (-2.0% after +0.3% in January). Prices of agricultural raw materials declined (-2.3% after +0.7%), marked by the slump in Natural rubber prices (-11.8% after -6.2%), in connection with a hike in supply in Thailand and Vietnam.This dip was not totally offset by the rise in Natural Fibers (+2.5% after +3.9%).

Prices of Minerals decreased as well (-1.9% after +0.2%) because of the repeated dip in Iron ore prices (-5.6% after –5.1%), and Non-ferrous metals (-1.3% after +1.5%), in particular those of copper (-2.3% after +1.9%), and lead (-2.1% after +1.4%), that stemmed from lingering concern about the demand in emerging economies that drove the industrial metals. This decline is partly balanced by the rise in Precious metals prices (+2.7% after +3.0%), in particular those of gold (+4.2% from +2.2%) as a result of both the recovery in Chinese imports and the renewed interest from households. Prices of silver followed suit (+4.3% after +2.3%).

Rise in raw food materials prices

In February, prices of raw food materials in euros increased (+3.7% after +2.3%). Prices of arabica rocketed (+30.0% after +5.7%) due to a lasting drought period in Brazilian producing areas. Prices of cocoa increased (+5.5% after -0.4%) because of a fall in supply in Ivory Coast and Ghana. Prices of palm oil picked up (+5.2% after -2.8%) in connection with less abundant crops in Indonesia and Malaysia.

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 108,7 1,0 0,9 –6,6
Brent in € per barrel 79,5 0,6 –0,4 –8,8
Gasoline €/L 0,52 4,6 10,2 –14,7
Gas Oil 673,8 0,4 –0,7 –9,7
Heavy fuel 456,6 5,2 3,0 –8,6
Naphtha 668,5 –1,9 –2,8 –9,4
  • 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 189,8 3,7 7,6 3,3
Tropical foodstuff 164,0 10,0 13,5 14,3
Oil seeds, vegetable oils 239,5 4,2 4,9 0,3
Cereals 148,4 2,1 0,2 –29,4
Sugar 133,1 5,1 –9,6 –12,9
Beef meat 131,7 –4,3 11,2 15,1
Industrial raw materials 154,3 –2,0 –3,1 –15,5
Agricultural raw materials 104,3 –2,3 –3,9 –6,1
Natural Fibers 128,8 2,5 7,8 0,0
Natural rubber 198,9 –11,8 –17,8 –38,4
Hides 89,9 1,8 –0,4 4,7
Wood pulp 90,9 0,2 0,9 7,1
Tropical wood 100,9 0,1 1,4 4,5
Sawn softwood 96,2 –2,8 –5,9 –6,6
Minerals 181,4 –1,9 –2,9 –18,4
Iron ore 657,2 –5,6 –12,1 –23,3
Non-ferrous metals 138,3 –1,3 –0,3 –16,3
Precious metals 224,5 2,7 –0,5 –23,7
All commodities 160,6 0,2 0,9 –8,8
  • 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