Energy prices increased 3.1% month on month in March, following February’s 1.8% rise.
In March, oil prices rose as OPEC+ continued to throttle global supply by extending its two-million—barrel-per-day cut to production until the end of June. In addition, data released in March showed that U.S. oil production fell the most since February 2021 in January, adding to the bearish outlook for supply. In addition, crude consumption has exceeded market expectations in recent weeks, aided by a strong U.S. economy and the rerouting of ships away from the Suez Canal. Meanwhile, the spot prices of gasoline, European natural gas and Australian thermal coal also increased. On the other hand, prices for coking coal, uranium, U.S. diesel and U.S. natural gas declined.
This chart displays Brent Crude Oil (US$/bbl) from 2022 to 2024.
Energy Historical Price Data
| Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | |
|---|---|---|---|---|---|---|---|---|
| European TTF Natural Gas | - | - | - | - | - | 31.99 | 60.51 | 36.90 |
| Diesel | - | - | - | - | - | 3.93 | 3.52 | 3.45 |
| Brent Crude Oil | - | - | - | - | - | 112.08 | 97.72 | 88.64 |
| WTI Crude Oil | - | - | - | - | - | 108.92 | 93.24 | 82.66 |
| RBOB Gasoline | - | - | - | - | - | 3.68 | 2.89 | 2.48 |
| U.S. Henry Hub Natural Gas | - | - | - | - | - | 7.50 | 7.93 | 6.11 |
| Australian Thermal Coal | - | - | - | - | - | 364.94 | 417.51 | 379.81 |
| Australian Coking Coal | - | - | - | - | - | 454 | 249 | 278 |
| Uranium U3O8 | - | - | - | - | - | 53.63 | 49.46 | 50.10 |