Primary Commodities Report for June 17 – 21
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 17th to June 21st, Brent Oil was the only commodity to experience a price increase, while Nickel, Gold, and Natural Gas prices all experienced declines. Brent Oil (black) surged at the start of the week and then stabilized, finishing with a gain of 3.2%. Despite an early rise, Nickel (red) prices dipped slightly, ending the week down by 0.3%. Gold (yellow) saw a slightly larger decrease compared to Nickel, falling by 0.6%. The largest movement was in Natural Gas (green), which dropped 6.1% over the week.
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 enter the final week of June, Brent Oil prices have continued their upward trajectory. After hitting a three-month low in early June, prices have been consistently climbing. Gold has shown little movement throughout the month, fluctuating between $2,300 and $2,500 per ounce. Natural Gas prices have begun to decline slightly after peaking at a three-month high in mid-June. Meanwhile, Nickel prices continue to fall and are now just below their lower boundary.
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