Energy prices advance in September—Pink Sheet

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Energy commodity prices gained nearly 5% in September, led by natural gas in the U.S. (+16%), the World Bank Pink Sheet reported. Crude oil and natural gas in Europe gained as well (4% and 14%, respectively).

Non-energy prices changed little as gains in beverages and metals were offset by declines in fertilizers.

Agricultural prices did not change much, but a 2% gain in beverages (driven by a 5% increase in cocoa prices) was offset by a 0.6% decline in food prices (mostly due to a 4% drop in maize prices).

Fertilizer prices declined nearly 5%, led by urea (down almost 10%).

Metals prices gained nearly 2%, led by nickel (+12%) and zinc (+3%).

Precious metals prices gained 1.5%, led by a 5.4% gain in silver.

The Pink Sheet is a monthly report that monitors commodity price movements.
 

 

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Nominal prices, percent changes, September over August

Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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