Commodity Prices Archives - Jamaica Bauxite Institute

Natural Gas

NorsonH — Tue, 25 Nov 2025 15:37:38 +0000

LNG prices softened on a quarterly basis in Q3 2025, with Henry Hub spot prices averaging US$3.03/MMBtu, down 5.0% QoQ but still 43.2% higher YoY. The decline reflected sustained production strength, high storage levels, and weaker seasonal power demand, which offset July’s export-driven gains and a modest late-summer rebound in September. Despite robust U.S. LNG exports, domestic oversupply and mild weather conditions continued to cap prices.

The EIA envisages natural gas prices rising steadily through 2026, driven by expanding LNG export demand and stagnant production growth. Further, seasonal heating needs are expected to add short-term pressure, supporting a generally upward trajectory over the forecast period.

Average Natural Gas Prices (US$ per Million Btu)

Prices	Q2 2025	Q3 2025	% Change Q3 vs Q2	Q3 2024	% Change 2025/2024
Henry Hub Natural Gas Spot Price	3.19	3.03	-5.0%	2.11	43.2%

The post Natural Gas appeared first on Jamaica Bauxite Institute.

Crude Oil

NorsonH — Tue, 25 Nov 2025 15:31:23 +0000

Average crude oil prices edged higher in Q3 2025, marking a cautious recovery after sharp declines in the previous quarter. Early gains were supported by stronger demand, easing geopolitical tensions, and improved trade sentiment. However, mid-quarter softness followed successive OPEC+ output hikes and speculative selling, before late rebounds driven by resilient physical markets, expectations of U.S. rate cuts, and reduced volatility stabilized benchmarks.

The OPEC Basket averaged US$70.36/bbl, up 4.3% QoQ but down 6.8% YoY. Brent crude posted a modest 1.4% QoQ increase to US$68.96/bbl, while the U.S. benchmark, WTI (Cushing), saw the strongest quarterly gain, rising 7.3% QoQ to US$65.75/bbl. Both benchmarks declined by more than 13% YoY.

The Energy Information Administration (EIA) foresees continued downside pressure for oil markets as rising production (increased OPEC+ output) and muted demand swell global inventories. Although sanctions on Russia persist, the agency anticipates supply will remain abundant. China’s stockpiling and potential disruptions could temper losses, but the overall trend is expected to be bearish.

Consequently, price expectations for 2026 have been revised slightly upward amid fragile conditions.

Average Prices (US$/bbl) – Crude Oil

Prices	Q2 2025	Q3 2025	% Change Q3 vs Q2	Q3 2024	% Change 2025/2024
OPEC Basket	67.44	70.36	4.3%	75.53	-6.8%
Brent	68.01	68.96	1.4%	79.84	-13.6%
WTI-Cushing	61.29	65.75	7.3%	76.23	-13.7%

The post Crude Oil appeared first on Jamaica Bauxite Institute.

Caustic Soda

NorsonH — Tue, 25 Nov 2025 14:59:40 +0000

Global caustic soda prices weakened in Q3 2025 as subdued demand and ample supply dominated market dynamics. The U.S. Gulf spot export price fell 14.7% to US$405.00/mt, while Northwest Europe decreased by 16.1% to US$426.25/mt, reflecting weak consumption amid economic uncertainty and new trade tariffs, with sporadic outages offering only marginal support.

In Asia-Pacific, prices were mixed. Australia’s alumina-use price declined 7.3% to US$394.17/mt, pressured by abundant supply and easing demand outside alumina and nickel sectors. China’s export price slipped 2.7% to US$390.00/mt after early weakness, stabilizing later as domestic strength from alumina demand offset bearish fundamentals.

Brazil was the exception, with import prices for alumina use rising 3.5% QoQ to US$465.83/mt and up 20.5% YoY, driven by logistical constraints and healthy regional demand. Overall, soft fundamentals and steady supply capped global price momentum, leading to significant corrections in major export hubs.

Caustic soda prices are projected to stay broadly stable for the remainder of 2025, limited by weak consumption and seasonal factors, though strengthening European energy costs offer mild upward pressure.

Average Caustic Soda Prices (US$/mt)

Markets	Q2 2025	Q3 2025	% Change Q3 vs Q2	Q3 2024	% Change 2025/2024
US Gulf Spot Export, FOB	475.00	405.00	-14.7%	410.83	-1.4%
Northwest Europe Spot Export, FOB	508.33	426.25	-16.1%	482.50	-11.7%
Brazil Import Alumina	450.00	465.83	3.5%	386.67	20.5%
Australia Alumina Use	425.00	394.17	-7.3%	381.67	3.3%
China Spot Export	400.83	390.00	-2.7%	397.50	-1.9%

The post Caustic Soda appeared first on Jamaica Bauxite Institute.