In April 2014, oil prices levelled offPrices of oil and raw material imports - April 2014

In April, the price of crude oil in euro terms was almost stable (+0.2%) and stood at €78.2 on average per barrel of Brent. Prices of imported commodities except energy in euros increased slightly (+0.6%), despite a higher rise in prices of industrial raw materials (+1.7%). This stemmed from a climb in minerals (+3.2%).

In April, the price of crude oil in euro terms was almost stable (+0.2%) and stood at €78.2 on average per barrel of Brent. Prices of imported commodities except energy in euros increased slightly (+0.6%), despite a higher rise in prices of industrial raw materials (+1.7%). This stemmed from a climb in minerals (+3.2%).

Stability in oil prices in euros

In April, the price of crude oil from the North Sea (Brent) in dollars levelled out (+0.1% after -0.7%). The bullish effect of the geopolitical strained situation in Ukraine was especially offset by a supply improvement in Libya. In euros, the price of Brent was practically stable as well (+0.2% after -2.0%).

Industrial raw materials prices picked up

In April, prices of industrial raw materials in euros increased (+1.7% after -2.7% in March). Prices of agricultural raw materials were still on the downside (-2.4% after -0.9%), especially those of Natural rubber (-6.4% after –0.4%) as a result of an increasing worldwide surplus. Those of Sawn softwood declined again (-6.8% from -1.6%). By contrast, prices of Minerals climbed (+3.2% after -3.4%). Iron ore prices recovered (+2.6% after –9.0%). Prices of Non-ferrous metals rebounded as well (+3.9% from -2.2%), in particular those of aluminum (+6.4% after -0.6%), on account of a weakening market surplus. Copper prices held steady (+0.1% after -7.8%). Prices of Precious metals declined (-2.5% from +0.9%), especially those of gold (–2.7% from +1.5%), in a decreasing risk aversion backdrop.

Drop in raw food materials prices

In April, prices of raw food materials in euros decreased (–0.8% after +2.6%). Most notably, prices of Cereals dipped (–1.8% after -0.1%), even though those of maize rose (+4.2% after +6.6%), on account of lower-than-expected American inventories. Prices of Beef meat dipped sharply (-6.5% after +8.4%). Those of Sugar went down too (-3.2% from +6.9%) due to a high output. The rise in Arabica prices continued (+4.8% after +21.4%), as a result of a drought that hit Brazilian crops.

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 108,0 0,1 0,4 4,0
Brent in € per barrel 78,2 0,2 –1,0 –1,9
Gasoline €/L 0,55 5,4 12,0 –0,1
Gas Oil 657,1 0,7 –2,1 –1,0
Heavy fuel 449,0 –3,1 3,5 –0,9
Naphtha 670,6 1,9 –1,6 6,6
  • 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 194,5 –0,8 5,1 5,3
Tropical foodstuffs 175,3 0,5 14,1 19,3
Oil seeds, vegetable oils 244,7 2,0 4,8 4,3
Cereals 145,0 –1,8 0,4 –28,9
Sugar 137,8 –3,2 8,8 –9,5
Beef meat 133,6 –6,5 –2,9 10,8
Industrial raw materials 154,2 1,7 –3,0 –9,5
Agricultural raw materials 103,0 –2,4 –5,0 –6,8
Natural Fibers 127,2 –2,3 1,3 –5,2
Natural rubber 185,5 –6,4 –17,7 –31,8
Hides 93,1 1,4 5,5 5,7
Wood pulp 90,7 0,5 0,1 3,4
Tropical wood 101,0 0,9 0,3 3,2
Sawn softwood 88,4 –6,8 –10,7 –16,4
Minerals 181,9 3,2 –2,2 –10,4
Iron ore 614,2 2,6 –11,8 –21,3
Non-ferrous metals 141,1 3,9 0,4 –6,7
Precious metals 222,6 –2,5 1,0 –16,5
All commodities 162,3 0,6 0,3 –3,8
  • 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