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Energy Commodities Price Outlook Economic Forecast

Energy Commodities Price Outlook

Energy prices slip on oil demand fears in January 

Energy prices dipped 3.0% month-on-month in January, compared to December’s 2.7% increase and marking the first contraction in the last three months.

Fears of slumping global oil demand due to the coronavirus outbreak weighed on energy prices at the outset of the year. Oil prices led the overall downturn amid significant disruptions to the manufacturing, transportation and construction sectors in disease-stricken China, which is the largest global oil importer. Oversupply  concerns due to the lack of action from OPEC+ further weighed on oil prices. Similarly, natural gas prices continued to decline markedly on worries of an increasingly oversupplied U.S. market, while warmer-than-usual weather weighed  on gasoil prices. In contrast, gasoline prices recovered some ground in January after slumping markedly in December.

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Energy Commodities Historical Price Data

2015  2016  2017  2018  2019  
Brent Crude Oil52.42  43.83  54.26  71.01  64.32  
WTI Crude Oil48.68  43.28  50.84  64.94  56.97  
Gasoline1.94  1.44  1.72  2.04  1.96  
Natural Gas2.63  2.55  3.02  3.07  2.53  
Thermal Coal58.88  65.69  88.19  107.03  78  
Coking Coal 88.38  142.7  188.92  207.39  179.47  
Uranium36.81  26.45  22.06  24.55  25.9  
Gasoil488.16  390.61  482.81  625.62  579.12  

Note:

  • 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).

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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