14 March 2014
2014- n° 61In February 2014, oil prices climbed Prices 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.
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 | 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
tableautabmatprem – 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
graphiqueG_petrole_ang – Oil
- Source : Insee
graphiqueG_alim_ang – Food
- Source : Insee
graphiqueG_ensemble_ang – All commodities
- Source : Insee
graphiqueG_indus_ang – Industrial raw materials
- Source : Insee
Pour en savoir plus
Time series : Raw materials prices
