24 August 2016
2016- n° 214In July 2016, oil prices declined Prices of oil and raw material imports - July 2016
In July 2016, the crude oil price in euros declined (-5.6% after +3.5%). At €40.8 on average per barrel, the Brent price remained significantly lower than one year ago (-19.7%).
In July 2016, the crude oil price in euros declined (−5.6% after +3.5%). At €40.8 on average per barrel, the Brent price remained significantly lower than one year ago (−19.7%).
Prices in euros of the other imported commodities rose less strongly than in June (+0.8% after +3.0%), held back by the downturn in raw food material prices (−2.1% after +4.6%). However, prices of industrial raw materials accelerated (+2.9% after +1.8%).
Oil prices fell back
In July, the price of crude oil from the North Sea (Brent) in euros shrunk (−5.6% after +3.5%), while it had increased since February. In dollars, the price fall was more marked (−7.0% after +2.9%) because the euro depreciated slightly during the month.
graphiqueG_petrole_ang – Oil (Brent)
- Source: INSEE
tableautabpetrole – 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 | 45,1 | –7,0 | 6,7 | –19,3 |
| Brent in € per barrel | 40,8 | –5,6 | 9,4 | –19,7 |
| Gasoline €/L | 0,326 | –8,2 | –2,8 | –32,5 |
| Gas Oil | 366,3 | –7,5 | 12,3 | –22,7 |
| Heavy fuel | 217,5 | –9,4 | 13,7 | –22,0 |
| Naphtha | 348,0 | –6,7 | 6,4 | –19,7 |
- Prices are in euros per tonne unless otherwise specified
- Source : INSEE
Prices of raw food materials decreased
Prices of raw food materials in euros shrunk (−2.1% after +4.6%). Prices of oil seeds and vegetable oils fall sharply (−6.1% after +5.6%), driven down by plumeting soybean meal price. Prices of cereals also slipped back (−0.9% after +4.2%), due to the corn price collapse (−15.0% after +6.0%) following bumper crops outlooks, notably in the United States. The decline in beef meat price eased (−1.2% after −2.5%). Tropical foodstuff prices grew less
than in June, because of the decrease in cocoa price. After two months of sharp increase, the price of sugar clearly slowed (+3.4% after +16.6% in June and +11.6% in May).
graphiqueG_alim_ang – Food
- Source: INSEE
Prices of industrial raw materials kept increasing
Prices of industrial raw materials in euros increased again in July (+2.9%) more strongly than during the previous month (+1.8%). Prices of minerals kept rising (+3.0% after +2.2%). Indeed, prices of iron ore bounced back (+11.9% after −2.1%), and precious metals prices picked up (+12.1% after +3.2%). However, non-ferrous metals prices are pratically unchanged (+0.1% after +4.0%). Agricultural raw materials prices rose faster than in June (+2.8% after +0.7%), due to a rebound in natural rubber price (+4.2% after −6.5%).
graphiqueG_indus_ang – Industrial raw materials
- Source: INSEE
graphiqueG_ensemble_ang – Imported raw materials (excluding energy)
- Source: INSEE
tableautabmatprem – Imported raw materials (excluding energy) in euros
| Index | Changes (%) | |||
|---|---|---|---|---|
| of last month | over the last month | over the last 3 months | over the last 12 months | |
| Food total | 220,6 | –2,1 | 9,3 | –3,8 |
| Tropical foodstuffs | 215,8 | 1,9 | 8,6 | –5,1 |
| Oil seeds, vegetable oils | 246,3 | –6,1 | 11,6 | –5,1 |
| Cereals | 164,2 | –0,9 | 10,7 | 2,0 |
| Sugar | 199,4 | 3,4 | 34,6 | 64,9 |
| Beef meat | 145,1 | –1,2 | –3,9 | –17,7 |
| Industrial raw materials | 156,8 | 2,9 | 2,6 | 0,9 |
| Agricultural raw materials | 116,7 | 2,8 | 4,7 | 0,0 |
| Natural Fibres | 139,4 | 10,3 | 17,9 | 11,0 |
| Natural rubber | 136,9 | 4,2 | –13,2 | –16,0 |
| Hides | 76,6 | 3,0 | 3,8 | –0,6 |
| Wood pulp | 99,5 | 2,4 | 5,4 | –5,2 |
| Tropical wood | 99,2 | –6,0 | –5,7 | –15,9 |
| Sawn softwood | 105,4 | 2,8 | 11,1 | 9,4 |
| Minerals | 178,8 | 3,0 | 2,0 | 1,3 |
| Iron ore | 378,8 | 11,9 | –2,6 | 9,3 |
| Non-ferrous metals | 146,3 | 0,1 | 2,0 | –2,3 |
| Precious metals | 270,3 | 12,1 | 15,0 | 20,2 |
| All commodities | 173,5 | 0,8 | 5,1 | –1,4 |
- Source : INSEE
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Time series : Raw materials prices
