In May 2015, oil prices increased againPrices of oil and raw material imports - May 2015

In May 2015, the price of crude oil in euros increased again (+5.4%), to average 57.9€ per barrel of Brent, which remained well below its level one year before (79.5€). Prices of imported commodities except energy in euros decreased again (–1.9%), either for raw food materials (-2.0%) or industrial raw materials (-1.9%).

Informations rapides
No 147
Paru le : 16/06/2015
Prochaine parution le : 21/11/2017 at 12:00 - October 2017

In May 2015, the price of crude oil in euros increased again (+5.4%), to average 57.9€ per barrel of Brent, which remained well below its level one year before (79.5€). Prices of imported commodities except energy in euros decreased again (–1.9%), either for raw food materials (-2.0%) or industrial raw materials (-1.9%).

Oil prices in euros kept climbing

In May, the price of crude oil from the North Sea (Brent) in dollars accelerated (+8.7% after +6.5%), in particular as a result of the variation on the American market: the output ceased to increase and the volume of inventories decreased for the first time since the beginning of the year. In euros, the Brent price slowed a little (+5.4% after +6.4%), as the European currency appreciated against the dollar (+3.1%).

Prices of industrial raw materials dipped again

In May, prices of industrial raw materials in euros went down again (–1.9% after -0.5% in April), due to a drop in the prices of agricultural raw materials and minerals. Yet, year on year, prices increased (+9.9%), due to the depreciation of the euro since then.

The fall in agricultural raw materials prices eased (-3.4% after -4.2%), in particular those of sawn softwood (-4.7% after -8.7%). Prices of wood pulp kept dipping (-3.9% after –2.7%), while prices of natural fibers were at a standstill (–0.1% after +3.4%). On the other hand, prices of natural rubber accelerated (+5.8% after +0.3%).

Prices of minerals fell back (-1.4% after +0.8%), as a result of a decrease in prices of non-ferrous metals (-2.9% after +2.1%). In particular, lead prices plummeted (-10.6% after +17.5%). Prices of copper dropped as well (-5.5% after +3.2%), those of aluminum too (-3.4% after +2.3%). However, the prices of those two metals have increased sharply year-on-year (+8.8% and +27.1% respectively). Prices of precious metals also fell back (–3.1% after +1.9%), in particular those of palladium (–3.0% after +5.5%), and those of platinum (-6.0% after +0.2%). Prices of iron ore bounced back (+14.2% after –10.2%), big mining companies having shrunk their output because of delayed industrial projects.

Prices of raw food materials declined virtually as much as in April

In May, prices of raw food materials continued to fall (–2.0% after -1.9%), in particular those of cereals (-6.0% after -2.2%), due to weakening trade, abundant stockpiles and favourable crop prospects. Prices of beef meat came down as well (-3.1% after -1.9%), in particular from the USA.

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 64.6 8.7 11.4 –40.9
Brent in € per barrel 57.9 5.4 13.4 –27.2
Gasoline €/L 0.46 8.7 24.5 –15.2
Gas Oil 537.8 3.9 8.1 –18.6
Heavy fuel 330.3 –2.9 10.2 –24.4
Naphtha 497.9 5.3 15.0 –27.1
  • 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 217.1 –2.0 –1.3 11.5
Tropical foodstuffs 210.4 1.4 1.7 21.6
Oil seeds, vegetable oils 232.5 –3.1 –4.1 –5.8
Cereals 150.0 –6.0 –4.9 5.1
Sugar 127.5 –4.7 –10.9 –10.6
Beef meat 184.9 –3.1 1.1 37.9
Industrial raw materials 168.6 –1.9 0.3 9.9
Agricultural raw materials 112.0 –3.4 –7.1 8.0
Natural Fibers 126.0 –0.1 7.7 –0.3
Natural rubber 178.3 5.8 9.1 –0.8
Hides 98.6 –5.8 –5.5 8.4
Wood pulp 103.7 –3.9 –4.0 13.7
Tropical wood 115.5 0.3 2.7 13.0
Sawn softwood 82.7 –4.7 –17.4 –8.2
Minerals 199.8 –1.4 2.9 10.9
Iron ore 399.7 14.2 –2.2 –26.2
Non-ferrous metals 169.6 –2.9 3.9 17.6
Precious metals 247.1 –3.1 –1.4 11.8
All commodities 179.4 –1.9 –0.4 10.8
  • 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