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  • QU Economics Research Team

Primary Commodities Report for June 3 – 7

 

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 3rd to June 7th, the prices of Nickel, Gold, and Brent Oil all saw decreases. Gold (yellow) experienced a slight drop of 0.8%, the smallest decline among the three commodities. Brent Oil (black) experienced a moderate fall of 2.5%, while Nickel (red) saw the most significant decrease, falling by 6.9%. Natural Gas (green) was the only commodity to increase in price this week, surging 12.8%. Despite starting the week with a decline, Natural Gas prices spiked towards the end of the week, continuing the volatility of the Natural Gas market as June begins.

 

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.


The first week of June reveals several noteworthy commodity trends. Natural Gas prices have surged to a three-month high, increasing to almost three dollars. In contrast, Brent Oil prices have reached a three-month low, continuing a downward trend that began in early May. Nickel prices also persist in their decline following a trend reversal that developed in mid-May, ending a two-month period of rising prices. Meanwhile, Gold prices are slowly decreasing but remain relatively high compared to recent months.

 

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