In September 2014, oil prices kept decreasingPrices of oil and raw material imports - September 2014

In September 2014, the price of crude oil in euro terms continued to decline (-1.5%) and averaged €75.5 per barrel of Brent. Prices of imported commodities except energy in euros continued to climb at the same rate as in August (+1.1%), supported by the increase in raw food materials prices (+2.8%).

In September 2014, the price of crude oil in euro terms continued to decline (-1.5%) and averaged €75.5 per barrel of Brent. Prices of imported commodities except energy in euros continued to climb at the same rate as in August (+1.1%), supported by the increase in raw food materials prices (+2.8%).

Oil prices kept dropping

In September, the price of crude oil from the North Sea (Brent) in dollars kept dropping (-4.5% after -4.7%), as a result of an increased supply in Libya and in Iraq. In euros, the Brent price dropped less sharply (-1.5% after -3.3%). However, it reached its lowest level since February 2011.

Prices of industrial raw materials fell

In September, prices of industrial raw materials in euros went down slightly (-0.2% after +1.4% in August). Prices of agricultural raw materials increased (+2.2% after +2.1%), due to a surge in wood pulp prices (+3.4% after +1.7%), as a result of the seasonal recovery in paper and cardboard demand facing weak stocks. Prices of natural fibers picked up (+2.1% from -9.3%), in particular those of cotton, in conjunction with the cut in worldwide subsidies in the sector and despite the abundant summer’s crops in Western Africa. Prices of natural rubber dipped sharply (-3.2% from -0.3%), as a result of a continuous oversupply in Thailand and in Indonesia. Prices of minerals decreased (–1.0% after +1.2%). Prices of non-ferrous metals slowed down (+0.7% after +2.0%). Prices of nickel, in particular, barely rose (+0.3% from -1.0%), and prices of zinc decelerated (+1.5% after +2.4%). Prices of lead plunged (–4.9% from +2.5%), on account of a lessening world’s demand. Prices of precious metals dipped sharply (–4.2% after -0.6%), in particular those of gold (-1.7% from +0.3%). Once again, prices of iron ore decreased markedly (-8.3% after –2.1%) due to a lower-than-expected Chinese demand.

Prices of raw food materials continued to rise

In September, the price rise in raw food materials in euros accelerated (+2.8% after +0.6%), boosted by oil seeds and vegetable oils (+6.3% after +4.8%). Prices of tropical foodstuffs slowed down (+2.2% after +4.6%), on account of a slight rise in arabica prices (+2.1% after +11.2%) and tea (+1.9% after +3.0%). Because of the high level of worldwide stocks, prices of cereals slowed down as well (+0.3% from +1.3%).

tabpetrole – Oil and petroleum products

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 ($/barrel) 97.3 –4.5 –13.0 –12.8
Brent in (€/barrel) 75.5 –1.5 –8.3 –9.7
Gasoline (€/L) 0.53 –0.7 –6.3 1.2
Gas Oil (€/ton) 645.3 –1.3 –3,8 –8.1
Heavy fuel (€/ton) 438.4 –1.1 –3.3 –4.6
Naphtha (€/ton) 658.1 0.7 –6.1 –5.4
  • 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 207.8 2.8 5.3 15.5
Tropical foodstuffs 193.9 2.2 9.1 34.1
Oil seeds. vegetable oils 257.2 6.3 5.8 6.2
Cereals 140.0 0.3 –1.1 –12.1
Sugar 126.7 –5.3 –10.7 –11.3
Beef meat 148.5 –0.4 4.2 31.7
Industrial raw materials 163.1 –0.2 6.1 2.2
Agricultural raw materials 110.8 2.2 7.5 5.2
Natural Fibers 108.5 2.1 –13.2 –14.6
Natural rubber 175.6 –3.2 –3.8 –33.3
Hides 101.8 5.3 11.5 29.4
Wood pulp 97.9 3.4 6.1 11.4
Tropical wood 105.4 0.7 1.7 6.4
Sawn softwood 99.7 1.7 16.4 7.2
Minerals 191.2 –1.0 5.5 1.1
Iron ore 472.8 –8.3 –6.4 –36.4
Non-ferrous metals 160.0 0.7 8.7 13.5
Precious metals 221.5 –4.2 –1.8 –5.9
All commodities 172.3 1.1 5.7 7.4
  • 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