May 13, 2023
The Brent Oil Price (global) ended April at $81.32, up +2.7% that month, but down -25.0% from its price a year ago.
The WTI Oil Price (domestic US) ended January at $76.78 per barrel, up +1.5% that month, but down -26.6% from a year ago.
The Henry Hub (US) Natural Gas Price spot price ended January at $2.27 per Million BTU, up +8.1% that month, but still down -66.8% from a year ago.
According to the IMF, the global price of copper fell -0.5% m/m in April, and was down -13.4% 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 rose +1.1% in April to $312.81 per metric ton, down -23.0% from a year before. The price spiked to $444.16 in March of last year, following the Ukraine invasion.
As of May 12, 2023, the Baltic Dry Shipping Index stood at 1,558, up +18.2% 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.