In June 2015, oil prices fell backPrices of oil and raw material imports - June 2015

In June 2015, the price of crude oil in euros fell back (-3.9% after +5.4%), to average 55.6€ per barrel of Brent. The price tumbled by 32.4% compared to its level in June 2014, when it stood at 82.3€. Prices in euros of imported commodities except energy decreased again (-1.1% after –1.9%), due to the drop in industrial raw materials (-3.8%), while prices of raw food materials climbed (+2.2%).

In June 2015, the price of crude oil in euros fell back (-3.9% after +5.4%), to average 55.6€ per barrel of Brent. The price tumbled by 32.4% compared to its level in June 2014, when it stood at 82.3€. Prices in euros of imported commodities except energy decreased again (-1.1% after –1.9%), due to the drop in industrial raw materials (-3.8%), while prices of raw food materials climbed (+2.2%).

Oil prices in euros went down

In June, the price of crude oil from the North Sea (Brent) in dollars fell back (-3.4% after +8.7%), in particular as a result of high production prospects from Opec members and in the USA, whereas demand prospects dipped, in particular in China. In euros, the price of crude Brent fell back as well (–3.9% after +5.4%). Still, temporary imbalances in the refining industry entailed an increase in gasoline prices in euros (+3.0%).

Prices of industrial raw materials dipped again

In June, prices of industrial raw materials in euros went down again (–3.8% after -1.9% in May), due to a drop in the prices of minerals. Yet, year-on-year, prices increased (+4.4%), due to the depreciation of the euro since then.

Prices of minerals kept falling (-5.9% after -1.4%), due to a further decline in prices of non-ferrous metals (-7.1% after –2.9%) and of precious metals (-4.6% after -3.1%). In particular, prices of nickel fell back (-5.7% after +2.2%), due to high stockpiling on a worldwide scale. Prices of aluminum kept dropping (-7.3% after -3.4%), as a result of a plentiful world output. Among precious metals, those of palladium plummeted (-13.6% after -3.0%) and those of gold decreased less sharply (-2.0% after -3.2%). On the other hand, prices of iron ore are still recovering (+2.9% after +14.2%; -18.6% over a year).

Prices of agricultural raw materials rallied (+3.0% after –3.4%), due to sawn softwood prices (+12.6% after -4.7%). On the contrary, prices of wood pulp declined (-0.7%), along with those of natural rubber (-0.6%) and of natural fibres (–1.1%).

Prices of raw food materials recovered

In June, prices of raw food materials picked up (+2.2% after -2.0%), in particular those of oil seeds and vegetable oils (+2.3% after -3.1%), as a result of an increasing demand for palm oil, in particular from China and India. Prices of tropical foodstuffs accelerated (+4.3% after +1.4%), particularly those of tea (+12.8% after +4.7%). Prices of cocoa remained buoyant (+4.8% after +4.1%), in particular as a result of adverse weather conditions affecting crops in Ghana.

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 62.4 –3.4 11.8 –44.2
Brent in € per barrel 55.6 –3.9 7.8 –32.4
Gasoline €/L 0.47 3.0 14.4 –16.9
Gas Oil 516.9 –3.9 2.6 –22.9
Heavy fuel 325.9 –1.3 12.6 –28.1
Naphtha 483.8 –2.8 3.2 –31.0
  • 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 222.0 2.2 –1.6 12.5
Tropical foodstuffs 219.6 4.3 4.6 23.6
Oil seeds, vegetable oils 237.9 2.3 –3.5 –2.2
Cereals 147.2 –1.9 –9.8 4.0
Sugar 117.3 –8.0 –11.8 –17.3
Beef meat 188.1 1.7 –3.3 32.0
Industrial raw materials 160.8 –3.8 –6.1 4.4
Agricultural raw materials 115.4 3.0 –4.7 12.0
Natural fibres 125.4 –1.1 2.8 –0.1
Natural rubber 177.2 –0.6 5.4 –2.9
Hides 96.2 –2.5 –12.6 5.4
Wood pulp 103.0 –0.7 –7.2 11.6
Tropical wood 115.6 0.1 0.1 11.5
Sawn softwood 93.1 12.6 –2.0 8.8
Minerals 185.7 –5.9 –6.6 2.3
Iron ore 411.2 2.9 5.5 –18.6
Non-ferrous metals 155.2 –7.1 –8.1 5.2
Precious metals 235.7 –4.6 –5.9 4.5
All commodities 176.5 –1.1 –4.1 8.2
  • Source: INSEE

G_petrole_ang – Oil (Brent)

  • Source: INSEE

G_alim_ang – Food

  • Source: INSEE

G_ensemble_ang – Imported raw materials (excluding energy)

  • Source: INSEE

G_indus_ang – Industrial raw materials

  • Source: INSEE