Market Speak: Energy index down for 4th month; mixed trend in other commodities - MOMR

In its Monthly Oil Market Report released in June, OPEC highlighted a mixed performance across global commodity price indices for May. The report noted that while base and precious metals indices posted gains, the energy and other mineral indices declined under pressure from ongoing trade uncertainties. Commodity prices overall struggled as fears over global trade tensions weighed on sentiment, despite a 90-day trade truce between the US and China that temporarily eased price swings but failed to fully lift market confidence. The energy price index fell for the fourth straight month in May, down 4.4 percent month-on-month, driven mainly by lower average crude oil and US natural gas prices. Some of these losses were offset by firmer Australian and US coal prices and stronger European gas prices. Year-on-year, the energy index dropped 18.1 percent, as weaker crude oil and Australian coal prices dragged the index lower, though higher prices for US coal and both US and EU natural gas helped cushion the decline.

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