In January 2014, oil prices decreasedPrices of oil and raw material imports - January 2014

In January, the price of crude oil in euro terms decreased (–2.2%) at €79.0 per barrel of Brent. Prices of imported commodities except energy in euros went up slightly (+1.1%), due to a rise in food materials prices (+2.3%).

Informations rapides
No 37
Paru le : 14/02/2014
Prochaine parution le : 20/09/2017 at 12:00 - August 2017

In January, the price of crude oil in euro terms decreased (–2.2%) at €79.0 per barrel of Brent. Prices of imported commodities except energy in euros went up slightly (+1.1%), due to a rise in food materials prices (+2.3%).

Oil prices in euros declined

In January, the price of crude oil from the North Sea (Brent) in dollars went down (-2.8% after +2.8%), thanks to a release of geopolitical tensions in the Middle East, where production has gained some momentum - especially in Libya. Thus, the price of Brent has come back to its November 2013 level ($107.7). In euros, the drop in the Brent price was less marked (-2.2% from +1.1%) due to a slight depreciation of the euro against the dollar (-0.6%).

Slight hike in industrial raw materials prices

In January, prices of industrial raw materials in euros came up slightly (+0.3% after -1.5% in December). Mineral raw materials prices increased slightly (+0.2% after –1.2%). Those of precious metals in particular rose (+3.0% from –5.9%) including platinum (-5.7% after –1.5%), whose price was dragged up by strikes in the South African mines. Platinum prices also rose (+3.4% after -4.1%) : the global motor industry was dynamic, and the supply from Russia has shrunk again. Prices of non-ferrous metals bumped as well (+1.5% after -0.5%), especially those of titanium (+5.0% after -0.6%). Prices of iron ore, on the contrary, declined (–5.1% after -2.0%).

Prices of agricultural raw materials went up slightly (-+0.7% after -2.3%) led by a hike in wood pulp prices (+1.2% from –0.5%). This hike was partly offset by a drop in natural rubber prices (-5.1% after -2.0%), due to an oversupplied market.

Slight rise in raw food materials prices

In January, prices of raw food materials in euros increased (+2.3% after +1.4%). The price of beef meat rallied (+17.5% after -1.1%), due to bad weather conditions in the United-States that caused the market to be undersupplied. Arabica prices went up again (+5.7% after +4.3%), due to disappointing crops in Brazil, the first global producer. These hikes were offset by a drop in oil seeds prices (-2.6% after +3.3%).

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 107,6 –2,8 –1,6 –4,0
Brent in € per barrel 79,0 –2,2 –1,5 –6,3
Gasoline €/L 0,49 3,0 1,7 –13,2
Gas Oil 671,0 –2,0 –1,4 –6,9
Heavy fuel 433,9 –2,1 –1,5 –9,3
Naphtha 681,7 –2,2 2,9 –2,8
  • 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 182,9 2,3 5,7 –1,1
Tropical foodstuff 149,0 0,5 3,3 0,6
Oil seeds, vegetable oils 229,7 –2,6 4,2 –2,2
Cereals 145,3 –0,4 –2,6 –31,3
Sugar 126,7 –5,5 –18,0 –19,5
Beef meat 137,6 17,5 19,8 18,2
Industrial raw materials 157,5 0,3 –0,4 –13,4
Agricultural raw materials 106,7 0,7 1,9 –4,0
Natural Fibers 125,7 3,9 1,2 1,4
Natural rubber 225,4 –6,2 –7,8 –30,6
Hides 88,3 0,0 11,2 8,1
Wood pulp 90,7 1,2 3,6 7,4
Tropical wood 100,8 1,2 2,5 0,7
Sawn softwood 99,0 3,1 3,8 –4,7
Minerals 184,9 0,2 –1,1 –16,2
Iron ore 696,2 –5,1 –3,2 –16,9
Non-ferrous metals 140,2 1,5 –0,1 –14,7
Precious metals 218,7 3,0 –4,7 –27,0
All commodities 160,2 1,1 1,9 –9,0
  • 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