Home Breadcrumb caret Industry News Breadcrumb caret Industry Breadcrumb caret Investments Breadcrumb caret Market Insights Scotiabank’s commodity index slumps The Scotiabank Commodity Price Index declined by 4.6% month-over-month in December. By Staff | January 29, 2013 | Last updated on January 29, 2013 1 min read The Scotiabank Commodity Price Index declined by 4.6% month-over-month in December, reflecting a sharp drop in the oil and gas index. “Western Canadian Select heavy crude oil led the decline, having plunged from US$72.47 to a mere US$57.84 per barrel in December,” says Patricia Mohr, vice president of Economics and Commodity Market Specialist at Scotiabank. The commodity index ended last year on a weak note. The All Items Index also fell, dipping 19.7% below the near-term peak in April 2011. The decline in December reflected a sharp drop of 14.6% in the oil and gas index, while other sub-indices posted positive results. Metal and minerals was up 1.7%, forest products surged 3.2%, and agricultural products inched up 0.8%. To read the full report about the performance of the Scotiabank Commodity Price Index, click here. NOTE: You can also watch a video about the index, featuring Patricia Mohr, by checking out the video list on the right-hand side of the page. Read: Blackrock licenses global commodity index Top picks for investors in 2013 Canada vulnerable to global risks Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo