Primary Commodities Report for March 23rd - 27th

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 100 at the start of the period.    

For the week of March 23^rd – 27^th all four commodities had large movement. Brent Oil (Black) started the week off rapidly declining; however, it began to make a recovery at the midpoint of the week. It increased for the remainder of the week, pushing it slightly past the baseline at 0.34% above the baseline. Natural Gas (Green) also declined to start the week. It had a slow recovery during the week which pushed it to end the week at 0% above the baseline. Gold (Yellow) had a less volatile decline for the week; it had a slight increase towards the end of the week. Hoverer remained below the baseline ending the week at ~1.71%.  Nickel (Red) was the only commodity this week that started the week, increasing and continued to do so. However, it did have a small decline towards the end of the week leaving Nickel (Red) at 5.1% above 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.    

Nickel (Red) stays below the lower bound for this week however it did make a small dent in trying to push past the lower bound and ended the week at a price of $15.29. /Share. Brent Oil (Black) continued to remain above the upper bound for this week and also continued to rise far above it. It ended the week with a price of $112.57/Barrel. Natural Gas (Green) has remained in bettween the baseline and lower bound for the majority of this month and appeared to have reached a steady state with minor dips and increases throughout the week. Ot ended the week with a price of $3.09/MMBtu. Gold (Yellow) had a rapid decline and fell below the baseline and lower bound for the week. It was able to have some increases during this week that have brought it closer to surpassing the lower bound however it ended the week below the line with a price of $4492.00/Troy oz.