19 October 2017
2017- n° 274In September 2017, oil prices increased again Prices of oil and raw material imports - September 2017
In September 2017, the price of crude oil in euros increased again (+5.9% after +3.0%). The prices in euros of all other imported commodities slowed down (+0.2% after +2.6%). The prices of industrial raw materials were virtually stable (−0.1% after +5.8%) and those of raw food materials recovered (−3.3% after −2.1%).
In September 2017, the price of crude oil in euros increased again (+5.9% after +3.0%). The prices in euros of all other imported commodities slowed down (+0.2% after +2.6%). The prices of industrial raw materials were virtually stable (−0.1% after +5.8%) and those of raw food materials recovered (−3.3% after −2.1%).
Oil price increased again
In September 2017, the price of North Sea crude oil (Brent) in euros recovered clearly (+5.9% after +3.0% in July) to an average of €46.1 per barrel. In dollars, the increase was a little stronger (+6.9% after +5.6%).
graphiqueGraph1 – Oil (Brent)
- Source : INSEE
tableauTable1 – Oil and petroleum products
| Prices | Change (%) | |||
|---|---|---|---|---|
| of last month | Sept./ Aug | Sept./ June | Sept. 2017 /Sept. 2016 | |
| Brent in $ per barrel | 54.9 | 6.9 | 16.6 | 18.9 |
| Brent in € per barrel | 46.1 | 5.9 | 9.8 | 11.9 |
| Gasoline €/L | 0.421 | 9.0 | 13.4 | 24.1 |
| Gas Oil | 446.1 | 9.3 | 8.4 | 19.5 |
| Heavy fuel | 292.0 | 1.1 | –2.1 | 18.4 |
| Naphtha | 418.9 | 7.8 | 18.2 | 20.0 |
- Prices are in euros per tonne unless otherwise specified
- Source : INSEE
Industrial commodity prices were virtually stable
In September 2017, the prices in euros of industrial raw materials were virtually stable (−0.1% after +5.8%). The prices of minerals were amost unchanged (−0.1% after +7.6%). The price of iron ore fell back (−6.2% after +12.1%). The prices of non-ferrous metals slowed down (+1.4% after +6.8%) as well as those of precious metals (+0.7% after +4.5%). The prices of agro-industrial raw materials were practically stable (−0.1% after −1.2%). The price of natural rubber bounced back (+4.8% after −0.5%) just as the price of natural fibres (+0.5% after −5.0%) and the price of tropical wood (+1.7% after −0.4%). The price of hides decreased less slightly than in August (−0.9% after −3.6%) as those of sawn softwood (−0.9% after −2.4%). Only the price of wood pulp decreased more than in August (−0.9% after −0.1%).
Food commodity prices recovered
In euros, the prices of raw food materials recovered (+1.0%) after a six-month decrease. The price of beef meat decreased less sharper than in August (−1.3% after −8.0%). The prices of cereals bounced back lightly (+0.2% after −5.9). The rebound was more marked for oil seeds and vegetable oils prices (+3.0% after −1.9%), and sugar prices (+6.8% after −6.3%). In contrast, the prices of tropical foodstuffs declined more than in July (−1.9% after −0.5%).
graphiqueGraph3 – Food
- Source : INSEE
graphiqueGraph2 – Imported raw materials (excluding energy)
- Source : INSEE
graphiqueGraph4 – Industrial raw materials
- Source : INSEE
tableauTable2 – Imported raw materials (excluding energy) in euros
| Index | Changes (%) | |||
|---|---|---|---|---|
| of last month | Sept./ Aug | Sept./ June | Sept. 2017 /Sept. 2016 | |
| Food total | 184.5 | 1.0 | –4.5 | –12.2 |
| Tropical foodstuffs | 157.1 | –1.9 | –4.6 | –25.3 |
| Oil seeds, vegetable oils | 221.2 | 3.0 | 2.9 | –5.8 |
| Cereals | 149.4 | 0.2 | –7.5 | 4.2 |
| Sugar | 134.3 | 6.8 | 1.1 | –37.0 |
| Beef meat | 128.3 | –1.3 | –19.9 | –4.4 |
| Industrial raw materials | 174.7 | –0.1 | 6.6 | 13.9 |
| Agricultural raw materials | 119.4 | –0.1 | –3.8 | 4.6 |
| Natural Fibres | 132.8 | 0.5 | –8.2 | –0.1 |
| Natural rubber | 148.6 | 4.8 | 7.0 | 6.8 |
| Hides | 59.5 | –0.9 | –12.6 | –21.3 |
| Wood pulp | 101.4 | –0.9 | –3.9 | 3.5 |
| Tropical wood | 93.1 | 1.7 | –0.5 | –4.7 |
| Sawn softwood | 109.1 | –0.9 | –6.3 | 8.2 |
| Minerals | 203.6 | –0.1 | 9.5 | 16.4 |
| Iron ore | 452.4 | –6.2 | 19.9 | 20.9 |
| Non-ferrous metals | 168.4 | 1.4 | 8.1 | 17.5 |
| Precious metals | 239.5 | 0.7 | –0.7 | –7.2 |
| All commodities | 174.2 | 0.2 | 2.6 | 3.7 |
- Source : INSEE
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Time series : Raw materials prices
