Primary Commodities Report for February 2nd - 6th
- QU Economics Research Team
- 3 hours ago
- 2 min read
By: Gabriella Acevedo, The Quinnipiac University Global 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 is measured in barrels. Natural Gas is measured in MMBtu (Million British Thermal Units), Gold is per troy ounce, and for Nickel the price reflects price per share of (NIKL) ETF. They are all indexed to be at 100 at the start of the period.
For the week of February 2nd-6th Natural Gas (Green) rapidly declined and while it had a slight increase at the midpoint of the week, it began to fall again ending the week at ~21.4% below the baseline. Gold (Yellow) had a minor dip to begin the week, however recovered from it and rose for the remainder of the week ending at 5% above the baseline. Brent Oil (Black) and Nickel (Red) followed a similar trend for the week. Both remained below the baseline. While they had an increase towards the end of the week, both began to decline after. Nickel (Red) ended the week at ~4.2% below the baseline. Brent Oil (Black) ended the week at ~3.7% below the baseline.
Commodities Historical Trends
Source: Yahoo Finance and own calculations. Rates are in United States dollars per one (1) unit of goods. Brent Crude Oil is measured in barrels. Natural Gas is measured in MMBtu (Million British Thermal Units), Gold is per troy ounce, and for Nickel the price reflects price per share of (NIKL) ETF.
Natural Gas (Green) dropped below the lower bound for this week. It had an increase and ended the week slightly above the lower bound threshold with a price of $3.42/MMBtu. Nickel (Red) fell below the upper bound for the week resulting in a price of $13.55/Share. Brent Oil (Black) fluctuated in price with increases and decreases throughout the week. It remained above the upper bound with a price of $68/Barrel. Gold (Yellow) dipped below the upper bound however was able to recover and rise back above it with a price of $4861.40/Troy oz.
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