January 13, 2023
The Brent Oil Price (global) ended 2022 at $82.82 per barrel, up +7.2% from a year before, but down significantly from its spike to $133.18 in March following the Ukraine invasion.
The WTI Oil Price (domestic US) ended 2022 at $80.16 per barrel, up +6.4% from a year ago. It peaked at $123.64 in March.
The Henry Hub (US) Natural Gas Price spot price ended 2022 at $3.52 per Million BTU, down -7.9% from a year before. The price saw a recent peak of $9.85 in August.
According to the IMF, the global price of copper rose +5.2% in November, but was down -17.3% from a year before. “Dr. Copper” has long been looked to as a leading indicator of manufacturing-based economic growth, but in recent years has been closely tied to China.
According to the IMF, the global price of wheat fell -2.7% in November to $344.33 per metric ton, up +8.5% from a year before. The price spiked to $444.16 in March, following the Ukraine invasion.
As of January 6, 2023, the Baltic Dry Shipping Index stands at 1,130, down -15.8% from a year ago. This index of average prices paid for the transport of dry bulk materials across more than 20 routes is often seen as a leading indicator of global economic activity and trade.