Energy Commodities Price Outlook
Energy prices fall at the sharpest pace in almost a year in August
Energy prices dived 3.1% month-on-month in August following July’s 3.5% increase, marking the first decline since April this year and the largest contraction since September 2020.
The overall fall was chiefly led by plunging crude oil prices. Crude oil prices dived in mid-August, weighed on by growing concerns over Asian demand, particularly from China, as the spread of the Delta variant caused the reintroduction of lockdown measures, boding ill for consumption in turn. That said, fears of U.S. supply disruptions stemming from Hurricane Ida and the successful containment of the Delta outbreak in China have since allowed prices for oil and its derivates to regain some lost ground. Meanwhile, prices for both coking and thermal coal continued to rally in August, propelled by supply disruptions and growing demand for energy consumption. Similarly, natural gas prices shot up in the month, bolstered by extreme-weather-driven demand for air conditioning in the U.S.
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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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