Energy Commodities Price Outlook Economic Forecast

Energy Commodities Price Outlook

Energy prices decline further in December

Energy prices fell 7.8% in December (November: minus 5.2% mom), marking the sixth consecutive month of decline.

Prices for every energy commodity in our report fell in December, with the exception of thermal coal. Investors remained bearish as the global economy flagged under the weight of elevated inflation and rising interest rates. This led to a decline in prices for oil and its derivatives. For natural gas, high inventory levels and warm weather ensured that prices fell. Meanwhile, the coking coal and thermal coal supply outlooks were boosted by drier weather in Australia. However, although coking coal prices fell, thermal coal prices rose. This was due to strong thermal coal demand from Europe and the prospect of higher demand ahead from China following the relaxation of its zero-Covid policy.



Energy Commodities Historical Price Data

2015  2016  2017  2018  2019  
Brent Crude Oil52.42  43.83  54.26  71.01  64.32  
WTI Crude Oil48.68  43.28  50.84  64.94  56.97  
Gasoline1.94  1.44  1.72  2.04  1.96  
Natural Gas2.63  2.55  3.02  3.07  2.53  
Thermal Coal58.88  65.69  88.19  107.03  78  
Coking Coal 88.38  142.7  188.92  207.39  179.47  
Uranium36.81  26.45  22.06  24.55  25.9  
Gasoil488.16  390.61  482.81  625.62  579.12  


  • Brent Crude Oil prices in USD per barrel (bbl).
  • WTI Crude Oil prices in USD per barrel (bbl).
  • Gasoline prices in USD per gallon (gal).
  • Natural Gas prices in USD per Million of British Thermal Units (MMBtu).
  • Thermal Coal prices in USD per metric ton (mt).
  • Coking Coal prices in USD per metric ton (mt).
  • Uranium prices in USD per pound (lb).
  • Gasoil prices in USD per metric ton (mt).
  • All prices are average of period (aop).

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities


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