In May 2014, oil prices increasedPrices 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.

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 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

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 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

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