Source: Barrel Blog | Joseph Innace, Platts content director | December 6, 2017
For the first time since Donald Trump was inaugurated president, more of the benchmark commodity prices tracked by S&P Global Platts since he took office are now slightly higher than when President Obama left. Until November, most prices had struggled to see their averages match — or surpass — the levels on the last day Obama held the office.
Although fundamentals and a range of other factors influence commodity prices, a group of 11 benchmarks is being monitored by Platts and compared for Trump’s term versus Obama’s.
The price of Dated Brent oil’s running average during the Trump era (January 20-November 30, 2017) is now $53.32/b, compared to $53.31/b on January 19. New York fuel oil’s running average is now at $47.04/b for the January 20-November 30 period, also up a penny from January 19.
Bigger running-average gains since the inauguration have been charted by Chicago gasoline (+9.6%), COMEX gold (+5.4%), jet fuel (+3.7%) and ethanol (+3.5%).
But the running average prices of natural gas, thermal coal, aluminum, iron ore and steel remain softer than Obama’s last day on the job.
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