Energy prices plunge in October—Pink Sheet

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Energy commodity prices dropped nearly 4% in October, led by crude oil (-4.6%) and Natural gas in the U.S. (-10%), the World Bank Pink Sheet reported. Natural gas in Europe and coal gained (+20% and +4.5%, respectively).

Non-energy prices increased almost 1% in response to strong gains in grains (+3.7%) and oils and meals (+2.2%).

Agricultural prices increased nearly 2%, reflecting gains in three main categories (beverages +1.6%; food 2.5%; and raw materials 0.7%).

Fertilizer prices declined marginally in response to a small decline in DAP.

Metals prices declined more than 1%, led by iron ore (-5%) and nickel (-3.5%).

Precious metals prices dropped 1.4%, led by a 5% decline in platinum.

 

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

Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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