Primary Commodities Report for September 16th – 20th
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 September 16th to September 20th, all four tracked commodities experienced price increases for the second consecutive week. Natural Gas (green) led the surge with a 5.6% rise, marking the largest increase. Brent Oil (black) saw a steady climb throughout the week, closing with a 4.0% gain. Despite dipping into negative territory midweek, Nickel (red) rebounded in the latter half, finishing up 2.6%. Gold (yellow) saw a comparatively modest increase, rising by 1.5% by the end of 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 summer draws to a close, several noteworthy trends are emerging across key commodities. Brent Oil is hovering near the lower boundary of its three-month rolling average, priced at approximately $75 per barrel. Gold, on the other hand, has surged to a record high, exceeding $2,600 per ounce. Natural Gas has edged just above the upper boundary of its three-month rolling average, currently priced at about $2.42 per barrel. Nickel has seen a strong recovery in September, with prices trending towards the upper boundary of its three-month rolling average.
Additional Reading:
Comments