Commodity Markets

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Commodity Markets Outlook
October 29, 2024 — Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook. Even so, overall commodity prices will remain 30 percent higher than they were in the five years before the COVID-19 pandemic. Read More »
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Latest Commodity Prices Published
October 2, 2024 — Energy prices declined 7.1% in September, led by crude oil (-7.3%) and natural gas Europe (-4.8%). Non-energy prices gained 2.3%. Food prices rose by 3.1%, raw materials increased by 3%, while beverages inched up 1.4%. Fertilizer prices dipped by 1.1%. Metal prices went up by 1.8%, led by aluminum and zinc (+4.5% each) and copper (+3%). Precious metals climbed by 4.3%. Read More »
Commodity market book
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Commodity Markets: Evolution, Challenges, and Policies
Global commodity markets are being reshaped in lasting ways as a result of COVID-19, the war in Ukraine, and the impacts of climate change—a transformation that is likely to have profound implications for developing economies over the coming decades, a new World Bank study has found. Read More »
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"Pink Sheet" Data Commodity Markets Outlook New!   Special Topics
Commodity prices
October 2024 (PDF)		 Commodity Markets Outlook
October 2024 (PDF)		 Commodity Price Synchronization: A New Era?
October 2024
Monthly prices
October 2024 (XLS)		 Executive summary
October 2024 (PDF)		 Forecasting Industrial Commodity Prices: An Assessment
April 2024
Annual prices
October 2024 (XLS)		 Price forecasts
October 2024 (PDF)		 Potential Near-Term Implications of the Conflict in the Middle East for Commodity Markets: A Preliminary Assessment
October 2023
   Charts and data files
October 2024 (zip)		 Forecasting Industrial Commodity Prices
April 2023

Using this Data

 

Recent Issues Reports Supporting data* Special focus
2024 - April PDF Zip > Forecasting industrial commodity prices: An assessment
2023 - October PDF Zip > Potential near-term implications of the conflict in the Middle East for commodity markets: A preliminary assessment
2023 - October PDF Zip > Potential near-term implications of the conflict in the Middle East for commodity markets: A preliminary assessment
2023 - April PDF Zip > Forecasting industrial commodity prices
2022 - Oct PDF Zip > Pandemic, war, recession: Drivers of aluminum and copper prices
2022 - Apr PDF Zip > The Impact of the War in Ukraine on Commodity Markets
2021 - Oct PDF Zip > Urbanization and commodity demand
2021 - April PDF Zip > Causes and consequences of metal price shocks
2020 - Oct PDF Zip > Persistence of commodity shocks
2020 - April PDF Zip > A shock like no other: The impact of COVID-19 on commodity markets
> Set up to fail? The collapse of commodity agreements
2019 - Oct PDF Zip > The role of substitution in commodity demand
> Oil market implications of the strike on Saudi Aramco facilities
2019 - April PDF Zip > Food price shocks: channels and implications
2018 - Oct PDF Zip > Shifts in commodity demand over the past 20 years
> The implications of tariffs for commodity markets
2018 - April PDF Excel > Oil exporters: Policies and challenges
2017 - Oct * Excel  
2017 - April * Excel  
2017 - Jan * Excel > Investment weakness in commodity exporters
2016 - Oct * Excel > OPEC in historical context: Commodity agreements and market fundamentals
2016 - July * Excel > Energy and food prices: Moving in tandem?
2016 - Apr * Excel > Resource development in era of cheap commodities
2016 - Jan * Excel > Weak growth in emerging market economies: What does it imply for commodity markets?
2015 - Oct * Excel > Understanding El Niño: What does it mean for commodity markets?
> Iran Nuclear Agreement: A game changer for energy markets?
2015 - July * Excel > China and India in global commodity markets
2015 - April * Excel > Anatomy of the last four oil price crashes
2015 - Jan * Excel > Oil price plunge in perspective
2014 - Oct *    > Role of income growth in commodities
2014 - July *    > Price volatility returns to historical norms
2014 - April *      
2014 - Jan *    > Oil price volatility

* If you are having difficulty downloading Excel files, please try right-clicking while we address the problem. Please contact commodities@worldbank.org for information on earlier issues of the publication.

 Earlier Issues (monthly and analytical)
2013 2013Q1,   2013Q3,   2013Q4
2012 Jan,   Feb,   Jun  •  2012H1,  2012H2
2011 Feb,   Mar,   Apr,   May,   Jun,   Jul,   Oct,   Nov,   Dec  •  2011H1,  2011H2
2010 Jan,   Feb,   Mar,   Apr,   May,   Aug,   Sep,   Oct,   Nov,   Dec  •  2010H1
2009 Jan,   Feb,   Mar,   Apr,   May,   Jun,   Sep,   Oct,   Nov,   Dec  •  2009H1
2008 Jan,   Feb,   Apr,   Jul,   Aug,   Sep,   Oct,   Nov,   Dec
2007 Mar,   Apr,   Jun,   Aug,   Sep,   Oct,   Nov,   Dec
2006 Jan,   Feb,   Mar,   Apr,   May,   Jun,   Jul,   Aug,   Sep,   Oct,   Nov,   Dec
2005 Jan,   Feb,   Mar,   Apr,   May,   Jun,   Jul,   Aug,   Sep,   Oct,   Nov,   Dec
2004 2004Q3
2003 Jan,   Feb,   Apr,   May,   Jun,   Jul,   Sep,   Nov,   Dec  •   2003Q1
2002 Jan,   Feb,   Mar,   Apr,   May,   Jun,   Jul,   Sep,   Oct,   Nov,   Dec  •   2002Q1
2001 Dec  •  2001Q1
2000 Jan,   Feb,  Apr  •  2000Q2
1999 Jan,   Feb,   Mar,   Apr,   May,   Jun,   Jul,   Aug,   Sep,   Oct,   Nov,   Dec  •  1999Q2,  1999Q3,  1999Q4
1998 1998Q1,   1998Q2,   1998Q3,   1998Q4
1997 1997Q1,   1997Q2,   1997Q3,   1997Q4
1996 1996Q1,   1996Q2,   1996Q3,   1996Q4
1995 1995Q1,   1995Q2,   1995Q3
1994 1994Q4
 Price Forecasts*  
2024 Apr   Oct    
2022 Apr   Oct 2023 Apr    Oct
2020 Apr   Oct 2021 Apr   Oct
2019 Apr   Oct 2006 Feb   Apr   Oct
2018 Apr   Oct 2005 Jan   Jun   Aug
2017 Jan   Apr   Oct 2004 Feb   Sep
2016 Jan   Apr   Jul   Oct 2003 Jun
2015 Jan   Apr   Jul   Oct 2002 Nov
2014 Jan   Apr   Jul   Oct 2001 Oct
2013 Jan   Jul   Oct 2000 Jan   Apr   Nov
2012 Jan 1999 Jan   Apr   Jul   Oct
2011 Jan   Jun 1998 Feb   May   Aug   Nov
2010 Jan 1997 Feb   May   Aug   Nov
2009 Jan 1996 Feb   May   Aug   Nov
2008 May   Nov 1995 Feb   May   Aug
2007 Jul   Sep   Dec 1994 Nov

* Document types include PDF and Excel. Please contact commodities@worldbank.org for information on earlier issues.

Date Title العربية  中文 Français 日本語  Português Русский Español
10/29/2024 Global Commodity Prices Set to Fall Through 2026 Amid Historic Oil Glut; Effects of Wider Middle-East Conflict on Oil Prices Could Be Muted by Oversupply (EN) AR ZH FR JA PT RU ES
4/25/2024 Global Commodity Prices Level Off, Hurting Prospects for Lower Inflation; Major Flare-up in Middle-East Conflict Could Stoke Global Inflation (EN) AR ZH FR JA PT RU ES
10/27/2023 Conflict in Middle East Could Bring "Dual Shock" to Global Commodity Markets; Impact limited so far but energy-market turmoil could intensify food insecurity (EN) AR ZH FR JA PT RU ES
4/27/2023 Commodity Prices to Register Sharpest Drop Since the Pandemic; But food prices remain near record highs, compounding food insecurity (EN) AR ZH FR JA PT RU ES
10/26/2022 Currency Depreciations Risk Intensifying Global Food, Energy Crisis; Elevated commodity prices could prolong inflationary pressures (EN) AR ZH FR JA PT RU ES
4/26/2022 Food and Energy Price Shocks from Ukraine War Could Last for Years; Shift to more costly trade patterns has begun; transition to cleaner energy could be delayed (EN) AR ZH FR JA PT RU ES
10/21/2021 Soaring Energy Prices Pose Inflation Risks as Supply Constraints Persist; Higher prices are also impacting food security in some countries (EN) AR ZH FR JA PT RU ES
4/20/2021 Commodity Prices to Stabilize after Early 2021 Gains, Supported by Global Economic Recovery; Path of commodity prices depends on pace of recovery and containment of COVID-19 (EN) AR ZH FR JA PT RU ES
10/22/2020 Impact of COVID-19 on Commodity Markets Heaviest on Energy Prices; Lower Oil Demand Likely to Persist Beyond 2021 (EN) AR ZH FR JA PT RU ES
4/23/2020 Most Commodity Prices to Drop in 2020 As Coronavirus Depresses Demand and Disrupts Supply; Despite ample supplies of agricultural commodities, trade and supply chain disruptions raise food security concerns (EN) AR ZH FR JA PT RU ES
10/29/2019 Commodity Prices Revised Down as Global Growth Weakens and Supplies Remain Ample; Energy and metal prices seen falling in 2019, 2020 on slowing demand (EN) AR ZH FR JA PT RU ES
4/23/2019 Oil prices to be lower in 2019 on slower-than-expected global growth, rising non-OPEC supply; Metal, agriculture prices to stage partial recovery, momentum to pick up in 2020 (EN) AR ZH FR JA PT RU ES
10/29/2018 Oil price rises in 2019 to be modest as U.S. production constraints ease; Trade tensions, ample supply in non-energy commodity markets have weighed on prices (EN) AR ZH FR JA PT RU ES
4/24/2018 Commodity prices to rise more than expected in 2018; Oil prices to average $65 a barrel in 2018 on strong demand, producer restraint (EN) AR ZH FR JA PT RU ES
10/26/2017 Commodity prices likely to rise further in 2018; Oil prices to average $56 a barrel in 2018, up from 2017 average of $53/bbl (EN) AR ZH FR JA PT RU ES
4/26/2017 Industrial Commodity Prices to Rise in 2017; Oil prices to average $55 per barrel in 2017, rise next year (EN) AR ZH FR JA PT RU ES
1/24/2017 Industrial Commodities Prices to Surge in 2017; Tight supply, strong demand boosts energy, metals prices (EN) AR ZH FR JA PT RU ES
10/20/2016 World Bank Raises 2017 Oil Price Forecast (EN) AR ZH FR JA PT RU ES
7/26/2016 World Bank Raises 2016 Oil Price Forecast (EN) AR ZH FR JA PT RU ES
4/26/2016 World Bank Raises 2016 Oil Price Forecast, Revises Down Agriculture Price Projections (EN) AR ZH FR JA PT RU ES
1/26/2016 World Bank Lowers 2016 Forecasts for 37 of 46 Commodity Prices, Including Oil (EN) AR ZH FR JA .. RU ES
10/20/2015 World Bank Revises Down Forecasts for Oil Prices, Other Key Commodities in 2015 and 2016 (EN) AR ZH FR .. .. .. ES
7/22/2015 Commodity Prices Expected to Remain Weak in 2015 Despite Slight Rebound in Oil Price (EN) AR ZH FR JA .. .. ES
4/22/2015 Continued Weakness in Commodity Markets May Signal Long Term Easing of Prices, Says WB Report (EN) .. ZH .. .. .. .. ..
1/22/2015 Most Commodity Prices Expected to Continue Declining in 2015, in Rare Occurrence, Says WB Report (EN) .. ZH .. .. .. .. ..
Next Updates
  • Pink Sheet (commodity price data): November 4, 2024
  • Commodity Markets Outlook: April 2025
News Release (10/29/24)
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