Primary Commodities Report for June 10 – 14
By: Gabriel Kukulka, The Quinnipiac University Economics Research Team
Commodities Index
Source: Yahoo Finance and own calculations. Rates are in United States dollars per one (1) unit of goods. Brent Crude Oil and Natural Gas are measured in barrels, Gold is per ounce, and the ETF is per share. They are all indexed to be at 100 at the start of the period.
From June 10th to June 14th, the prices of Brent Oil and Gold increased, while Natural Gas and Nickel experienced declines. Brent Oil (black) showed a steady rise throughout the week, culminating in a 3.7% increase. Gold (yellow) also saw an uptick, with prices climbing by 1.1%. Natural Gas (green) had a highly volatile week, initially surging by almost 7.5% before plummeting in the second half of the week to finish down 1.4%. Nickel faced a significant drop, with prices continuously falling to end the week 8.3% lower.
Commodities Historical Trends
Source: Yahoo Finance and own calculations. Rates are in United States dollars per one (1) unit of goods. Brent Crude Oil and Natural Gas are measured in barrels, Gold is per ounce, and the ETF is per share. The center line is a rolling three-month average. The upper and lower boundaries are the average plus and average minus one standard deviation, respectively, for the same three-month period.
As we approach mid-June, Brent Oil prices are on the rise for the first time since March. After a sharp decline beginning in early May, prices are showing signs of reversing as June unfolds. Gold is stabilizing around $2,300 per ounce as we move into the summer months. Natural Gas prices have continued their upward trajectory, a trend that emerged in early May and shows no signs of slowing. Meanwhile, Nickel prices have plunged at the start of June, falling below the three-month rolling average, a level not seen since early May. This trend in Nickel prices is worth monitoring in the coming weeks.
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