14-06 Energies Highlights 1366x768

Energies: Highlights | December 2014

[EN] Crude oil prices have slumped by 45 percent since June 2014. With an average price of 63.0 EUR/bbl, crude oil prices fell by roughly 18.0 percent in November and even below 50.0 EUR/bbl in the early December. The continual sell-off is mainly caused by OPEC’s decision on 27th November to not reduce production. Moreover the fast growth in shale (light oil) production in the USA has significantly reduced U.S. imports and therefore increased the excess of world supply strongly. How long this downtrend will continue depends mostly on the willingness of OPEC to maintain their policy and on the duration of oil prices to bring the market into balance.
Besides the price for natural gas in the US has increased in November, due to 
strong demand because of unseasonably cold weather.

Taking the past 12 months into account, we have observed strong price decreases for crude oil WTI (-23.3%) and Brent (-36.5%) as well as for natural gas EU (-17.1%). Since US and EU natural gas markets are not highly correlated, we have noticed a price increase of +14.5% for natural gas in the US.

During the last month, Brent (-20.1%) and WTI (-19.1%) have continued their extraordinary downward trend and also natural gas EU reports a price drop (-7.7%). Only the price for natural gas in the US (+8.2%) has increased. The highest price movements are still registered by the US market of natural gas with an annualized volatility of 35.6% in November.

In order to provide a market visibility for European companies affected by raw material costs, the following analysis takes into consideration the price evolution in EUR unless specified. Please click on the raw materials below to receive more detailed information.

Energies prices returns | 1 YEAR | daily price dataEnergies prices returns | 1 MONTH | daily price data
December 2013 – November 2014November 2014
*Returns based on monthly data over the last 12 months*Returns based on monthly data over the last month

1. CRUDE OIL BRENT  Read more

2. CRUDE OIL WTI  Read more

3. NATURAL GAS EU  Read more

4. NATURAL GAS US Read more

Date of publication: 15 December 2014
Sources | Disclaimer | Methodology

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