In July 2014, oil prices decreasedPrices of oil and raw material imports - July 2014

In July, the price of crude oil in euro terms dropped (-3.7%) and stood at €79.2 on average per barrel of Brent. Prices of imported commodities except energy in euros climbed (+2.1%), on account of the increase in industrial raw materials prices (+4.8%).

Informations rapides
No 188
Paru le : 14/08/2014
Prochaine parution le : 25/08/2017 at 12:00 - July 2017

In July, the price of crude oil in euro terms dropped (-3.7%) and stood at €79.2 on average per barrel of Brent. Prices of imported commodities except energy in euros climbed (+2.1%), on account of the increase in industrial raw materials prices (+4.8%).

Downturn in oil prices

In July, the price of crude oil from the North Sea (Brent) in dollars came down (-4.3% after +2.4%), despite the strained geopolitical climate in the Middle-East. In euros, the Brent price declined too (3.7% after +3.5%).

Prices of industrial raw materials increased

In July, prices of industrial raw materials in euros ramped up (+4.8% after +0.3% in June). Prices of agricultural raw materials recovered (+3.0% after -0.5%), especially those of sawn softwood (+9.2% after -4.4%), in spite of the fall in cotton prices (-7.3% from -0.7%), marked by plentiful crops in the USA and in India. Prices of minerals boosted (+5.5% after +0.6%). Prices of non-ferrous metals came up more sharply (+5.8% after +2.2%), on account of the sharp increase in copper prices (+5.3% from –0.1%) and of the dynamism in aluminum prices (+6.8% from +6.2%). Prices of iron ore picked up (+4.3% after -6.8%).

Prices of precious metals kept climbing (+4.4% from +1.5%), due to the rise in gold prices (+3.2% after +0.4%), viewed as an offset value in times of tensions. Palladium prices kept increasing (+5.3% from +2.6%).

Prices of raw food materials dipped

In July, prices of raw food materials in euros slid (-1.6% after +1.4%). Prices of oil seeds and vegetable oils plummeted (–9.9% after -1.4%), in particular those of sunflower oil (-3.8% after -0.3%), but especially those of soybeans (-10.1% from –2.6%), on account of abundant american crops. Prices of Cereals shrank as well (-2.7% after -0.8%), in particular those of maize that went down sharply (-13.6% from -7.7%), as a result of a high crop output level in the USA. Within the tropical foodstuffs, arabica prices ceased declining (+0.4% from -7.3%), thanks to a rebalancing between supply and demand. Prices of beef meat were still borne by a favourable momentum (+8.5% after +6.2%), on account of a marked demand in Asia.

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 107.0 –4.3 –0.9 –0.6
Brent in € per barrel 79.2 –3.7 1.4 –3.7
Gasoline €/L 0.55 –3.5 –0.8 –6.8
Gas Oil 658.6 –1.8 0.2 –5.5
Heavy fuel 453.3 –2.4 –0.2 –2.0
Naphtha 698.9 –0.3 4.2 4.2
  • Prices are in euros per tonne unless otherwise specified
  • Source : Insee

tabmatprem_ang – 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 194.3 –1.6 –0.1 1.7
Tropical foodstuffs 181.3 2.0 3.4 27.8
Oil seeds, vegetable oils 219.3 –9.9 –10.4 –17.3
Cereals 137.8 –2.7 –4.9 –28.5
Sugar 142.6 0.5 3.5 1.7
Beef meat 154.6 8.5 15.8 29.8
Industrial raw materials 161.4 4.8 4.6 2.0
Agricultural raw materials 106.0 3.0 2.9 3.5
Natural Fibers 117.4 –6.5 –7.7 –11.1
Natural rubber 179.2 –0.1 –3.4 –25.6
Hides 92.4 1.1 –0.8 5.9
Wood pulp 93.2 1.0 2.7 4.6
Tropical wood 105.4 1.7 4.3 9.0
Sawn softwood 94.0 9.2 6.4 9.0
Minerals 191.4 5.5 5.1 1.4
Iron ore 526.8 4.3 –14.2 –26.8
Non-ferrous metals 155.7 5.8 10.2 9.6
Precious metals 236.8 4.4 6.4 3.2
All commodities 166.6 2.1 2.6 2.0
  • 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