Most commodity prices in Trump era weaker — so far — than during Obama’s: Of Presidents and Prices

Ten of the 11 average commodity prices tracked by S&P Global Platts since President Donald Trump took office remain weaker than their averages during President Obama’s two terms.

Although fundamentals and a range of other factors influence commodity prices, the group of 11 is being monitored by Platts and compared for Trump’s term versus Obama’s. And since Trump took the oath of office on January 20,  the monthly price performance of 11 commodities remains well below the average prices during Obama’s tenure  — down by an average of 20.6%.

The Trump vs. Obama decline in values now ranges from  3.7% (gold) to 38.2% (oil, Dated Brent).  In fact, the group of energy commodities (oil, jet fuel, gasoline, ethanol, natural gas) are down an average of 30% compared to the Obama years— largely a reflection of more supply. But that negative gap has narrowed recently; several energy prices gained in September after languishing much of the summer.

The one commodity among the 11 with higher pricing is steel hot-rolled coil made in the US — which is up 4.6% to nearly $625/st since Trump took office, compared to the $598/st average during Obama’s terms.

Read the last iteration of the Of Presidents and Prices series here.