Source: The Barrel Blog | Joseph Innace, Platts Metals Contents Director | July 11, 2017
The S&P Global Platts commodities price watch during President Donald Trump’s term recently wrapped up its first five months, and the price averages since he became president (on January 20, through June 30, 2017) for oil, natural gas, and coal continue to struggle. Two metals have gained – aluminum and gold, while steel pricing is slightly weaker and iron ore prices down more sharply.
Of the 11 commodities tracked, seven have lost value since he took the oath of office, and four have gained. The laggards are: thermal coal, -13.41%; iron ore, -8.48%; natural gas, -6.83%; fuel oil, -4.53%; Dated Brent, -3.58%; jet fuel, -3.29%, and steel -0.61%.
Aluminum leads the gainers, up 4.67%, followed by gasoline, up 3.53%; ethanol up 4.03%; and gold, up 3.89%.
Except for steel, the 10 other average commodity prices to date (still the very early stages of the Trump presidency) are all below the average prices during President Obama’s two terms. Dated Brent, at $51.40/b, is more than $32/b below the Obama two-term average of $83.63/b.
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