13 June 2014
2014- n° 137In May 2014, oil prices increased Prices of oil and raw material imports - May 2014
In May, the price of crude oil in euro terms climbed (+1.7%) and stood at €79.5 on average per barrel of Brent. Prices of imported commodities except energy in euros decreased slightly (-0.3%), because of the decline in industrial raw materials prices (-0.6%), in particular those of minerals (–0.9%).
In May, the price of crude oil in euro terms climbed (+1.7%) and stood at €79.5 on average per barrel of Brent. Prices of imported commodities except energy in euros decreased slightly (-0.3%), because of the decline in industrial raw materials prices (-0.6%), in particular those of minerals (–0.9%).
Rise in oil prices
In May, the price of crude oil from the North Sea (Brent) in dollars rose (+1.1% after +0.1%). In euros, the Brent price also climbed (+1.7% after +0.2%). Prices recovered on account of the strained situation in Ukraine even though Saudi Arabia promised to raise its output in case of supply problems.
Prices of industrial raw materials dropped
In May, prices of industrial raw materials in euros fell (–0.6% after +1.7% in April). Prices of agricultural raw materials picked up (+0.4% after -2.4%), especially those of Sawn softwood (+1.8% after -6.8%) while prices of Tropical wood were still climbing (+1.2% from +0.9%). Prices of Natural rubber dipped sharply (-4.6% from -6.4%). Prices of Minerals decreased as well (-0.9% after +3.2%). Iron ore prices plunged (-11.8% after +2.6%), due to a high yield in Australia and in Brazil. Prices of Non-ferrous metals slowed (+1.9% from +3.9%) but continued to climb on account of the high rise in nickel prices (+12.6% after +11.0%), as a result of a production shutdown in a sizeable output unit. Prices of Precious metals went back up (+0.4% from -2.5%), especially those of platinum (+2.3% from -1.3%), due to some fear prompted by strikes in South Africa.
Prices of raw food materials picked up
In May, prices of raw food materials in euros recovered (+0.1% after -0.8%), because of the hike in sugar prices (+3.6% after -3.2%) due to uncertain weather conditions. Prices of Beef meat bounced back (+0.4% after -6.5%) on account of a lower output growth. However, prices of arabica declined (-4.6% from +4.8%), thanks to a Brazilian crop that was better than hoped for. Prices of Cereals dipped (-1.5% from -1.8%), especially those of maize (-2.1% from +4.2%) as a result of good weather conditions.
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 | 109,2 | 1,1 | 0,5 | 6,0 |
| Brent in € per barrel | 79,5 | 1,7 | 0,0 | 0,2 |
| Gasoline €/L | 0,54 | –2,1 | 4,8 | –3,2 |
| Gas Oil | 660,5 | 0,5 | –2,0 | –0,4 |
| Heavy fuel | 459,6 | 1,1 | 0,7 | –0,6 |
| Naphtha | 683,3 | 1,9 | 2,2 | 6,9 |
- 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 | 194,7 | 0,1 | 1,9 | 1,9 |
| Tropical foodstuffs | 173,0 | –1,3 | 3,4 | 16,4 |
| Oil seeds, vegetable oils | 246,9 | 0,9 | 1,6 | –0,6 |
| Cereals | 142,8 | –1,5 | –3,3 | –31,0 |
| Sugar | 142,7 | 3,6 | 7,2 | –3,1 |
| Beef meat | 134,1 | 0,4 | 1,9 | 7,7 |
| Industrial raw materials | 153,4 | –0,6 | –1,5 | –6,9 |
| Agricultural raw materials | 103,4 | 0,4 | –2,8 | –2,7 |
| Natural Fibers | 126,5 | –0,6 | –1,7 | –5,8 |
| Natural rubber | 176,9 | –4,6 | –11,0 | –35,4 |
| Hides | 91,1 | –2,2 | 1,3 | 3,3 |
| Wood pulp | 91,3 | 0,6 | 0,5 | 2,4 |
| Tropical wood | 102,2 | 1,2 | 1,3 | 4,1 |
| Sawn softwood | 90,0 | 1,8 | –6,5 | –1,1 |
| Minerals | 180,4 | –0,9 | –1,0 | –8,4 |
| Iron ore | 542,0 | –11,8 | –17,5 | –23,4 |
| Non-ferrous metals | 143,9 | 1,9 | 3,8 | –3,9 |
| Precious metals | 223,5 | 0,4 | –1,1 | –12,3 |
| All commodities | 161,9 | –0,3 | –0,1 | –3,3 |
- 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
