Energy prices spearheaded June’s overall increase, rising at the fastest clip since 2022 due to investor concerns over the military conflict between Iran and Israel. The escalation in tensions also boosted prices for precious metals. That said, market jitters eased in the closing days of the month when the two countries agreed to a ceasefire. This truce, coupled with healthier global manufacturing activity, a China–U.S. trade deal on rare earth exports along with easing tech curbs, all boosted base metal prices. On the flip side, agricultural prices declined as U.S. trade policy uncertainty constrained demand and favorable weather buttressed the supply outlook for most commodities.
Commodities prices increased 5.0% month on month in June, following May’s 0.5% fall.
This chart displays Brent Crude Oil (US$/bbl) from 2023 to 2025.