Energy Commodities Price Outlook
Energy prices decline again in December
Energy prices plummeted 8.3% over the previous month in December, falling at a sharper rate than the 5.6% decline logged in November and marking the worst result in 20 months.
Despite largely recovering towards the end of the month, energy prices plummeted on average in December as the spread of the recently discovered Omicron variant intensified worries of a global economic slowdown, with prices for seven out of the eight energy commodities tracked by our panelists falling. Fears of renewed mobility restrictions, notably in the EU and the U.S., dealt a massive blow to prices for oil and its derivatives. Moreover, rising production in the U.S. sent prices for natural gas plunging, while subdued demand for steel in China took a toll on prices for coking coal. Conversely, thermal coal defied the trend, as top -producer Indonesia’s decision to keep its temporary ban on exports continued to support prices. However, improved demand prospects amid easing concerns over the economic impact of the latest Covid-19 wave meant that the decline in energy prices was short-lived, with most of the eight commodities regaining lost ground in early January.
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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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