CommodityHQ.com provides weekly information about any material impact of a major economic, corporate and/or geopolitical event on the global commodities market. The report also analyzes the weekly change in prices of the major commodity futures and commodity focused ETFs as a result of market-changing events and trends. This report covers events and analysis for the weeks ranging May 2nd to May 9th.
- Brent and crude oil prices continued to outperform this week after supply data showed a greater-than-expected drop.
- A rising U.S. dollar and higher bond yields kept gold prices flat this week.
- The national average for gasoline prices in the U.S. remained stubbornly high this week but showed signs of weakening going into next week.
- Be sure to read our previous edition to keep in touch with the changing trends in the global commodities space.
Weekly Market Wrap-up
Energy – Oil prices continued their meteoric rise this week as supply data came in lower than expected, while natural gas prices remained near record highs ahead of summer demand.
- Oil – Brent and crude oil prices continued to surge higher this week after a drop in supplies with crude trading at $71.53.
- Natural Gas – Natural gas prices trended slightly lower this week to $2.747 per million British thermal units but could be headed higher next week.
- Gasoline – The national average for a gallon of gas in the U.S. held flat this week, at $2.84, but showed signs of weakening.
Metals – Falling inventories and strong Chinese demand helped lift copper prices this week to $3.10.
- Precious Metals – Higher bonds yields kept gold prices relatively flat this week at $1,312.90 a troy ounce.
- Other – Aluminum prices slipped lower this week following recent U.S. sanctions on Russian producer Rusal.
Grains – U.S. wheat prices ticked higher for the week following reports of crops hit hard by harsh winter weather.
- Corn and Soybeans – Both corn and soybean prices rose this week ahead of the monthly supply-demand report.
Softs – London sugar prices fell slightly this week on concerns of a global supply glut.
If you are wondering which commodity might be right for you, check out our Commodity Investing Database.
Weekly Movement Across Commodity Futures
For this week, we analyzed all commodities by weekly performance and listed the top three performers by weekly percentage gain. All commodities were taken into account and analyzed from a performance perspective only to find the top three.
|Commodity||Weekly Gain (%)||Contract Expiration||Contract Price (as of May 9)||52-Week Price Change|
|Brent Oil||5.47%||07/18/18||$77.50||$44.35 - $77.50|
|Crude Oil||4.86%||06/18/18||$71.53||$42.05 - $71.53|
|Heating Oil||4.64%||06/18/18||$2.22||$1.35 - $2.22|
This week’s top-performing commodities were all oil-related, with Brent oil and crude oil leading the way. A drop in supplies helped spur prices higher, while heating oil followed along taking up the third-best spot for the week.
Weekly Commodity ETF Movers
For ETF investors, we tracked the top three biggest gainers and top three biggest losers for the past week. Not included are ETN’s, which behave differently than ETF’s, as well as leveraged ETF’s which may not be suitable for some investors. Some ETF’s that have less than one year on the market have been excluded due to lack of long-term data.
Top Three ETF Winners This Week
|ETF Ticker||ETF Name||Commodity Category||Assets ($MM)||NAV (as of May 9)||Return (weekly %)||Return (YTD %)||Expense Tatio|
|USL||United States 12-Month Oil Fund||Oil||$86.21||$24.51||3.99%||17.16%||0.86%|
|DBO||PowerShares DB Oil Fund||Oil||$365.08||$12.11||3.68%||19.31%||0.75%|
|USO||United States Oil Fund||Oil||$1,929.93||$14.06||3.31%||17.07%||0.77%|
The best commodity-based ETF performers for the week were all oil-related funds. An unexpected drop in supply data helped fuel oil’s rise this week with Brent oil hitting its highest level since November of 2014.
Top Three ETF Losers This Week
|ETF Ticker||ETF Name||Commodity Category||Assets ($MM)||NAV (as of May 9)||Return (weekly %)||Return (YTD %)||Expense Ratio|
|UNL||United States 12-Month Natural Gas Fund||Natural gas||$5.83||$8.91||-2.62%||-2.94%||0.90%|
|UNG||United States Natural Gas Fund||Natural gas||$369.59||$22.33||-2.19%||-4.25%||1.30%|
This week’s worst-performing commodity-based ETFs were somewhat mixed with two natural gas funds taking up the number one and number three spots. A lack of strong weather weighed on natural gas prices, while a soybeans fund fell on profit-taking activity.
We provide this report on a weekly basis. Be sure to check our News section to remain updated on the latest happenings in the commodity space.