Primary Commodities Report for March 9th - 13th

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 9^th – 13^th  Brent Oil (Black) showed the largest movement. It began the week, increasing before having a sharp decline reaching a low of ~ 5.27% below the baseline. It recovered and continued to increase for the week ended at 11.2% above the baseline. Natural Gas (Green) started the week declining and continued to do so until the mid-point of the week where it increased and pushed past the baseline before having a slight decline landing at ~ 1.72% below the baseline. Gold (Yellow) and Nickel (Red) followed a similar trend for the week. Both started the week declining while they had a small increase; they shortly fell below the baseline and continued to decline with Gold (Yellow) ending the week at ~1.81% and Nickel (Red) ending the week at ~4.87%.

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.       

Brent Oil (Black) remained above the upper bound for this week, along with reaching its highest price of the year. It ended the week with a price of $103.14/Barrel. Gold (Yellow) had some fluctuations during the week and while it suppressed the upper bound, it fell once more landing above the baseline with a price of $5052.50/Troy oz Natural Gas (Green) continued to follow a trend of decline while having some small increases it remained below the baseline. It sits slightly above the lower bound ending this week at $3.13/MMBtu. Nickel (Red) fell below the baseline during the midpoint of the week and continued to fall for the remainder of the week landing above the lower bound with a price of $16.18/Share