Energy Commodities Price Outlook
Energy prices plunge on crumbling oil demand in February
Energy prices slumped 10.1% month-on-month in February, after falling 3.0% in the opening month of the year and marking the sharpest contraction in eight months.
Global oil prices plummeted throughout February as the fast-spreading coronavirus pandemic severely disrupted business activity in China and caused increasing economic havoc in the EU and U.S. In response to a hastening economic downturn, oil demand plummeted sharply in the month, which, coupled with growing fears of a global recession in the months ahead and still-elevated oil production levels, sent oil prices tumbling. Similarly, natural gas prices fell markedly in February on soft demand amid warmer-than-usual weather.
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Energy Commodities Historical Price Data
|Brent Crude Oil||52.42||43.83||54.26||71.01||64.32|
|WTI Crude Oil||48.68||43.28||50.84||64.94||56.97|
- 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).
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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