Sharp Declines in Crude Oil and Copper Prices and Market Volatility
First written in FY2016. 13 of 41 entries say "Materialised", first in FY2018-Q1. Latest entry: 2026-08-07.
ENEOS Holdings moved to the "Worse" side of this theme in 2019, the same year as the typical company in this theme.
The whole theme swung hardest in 2019: 4 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Including an accounting loss from inventory effects of ¥7.8 billion, compared with a loss of ¥57.6 billion in the same period of the previous year」
The inventory-effect loss attributable to fluctuations in crude oil prices narrowed from ¥57.6 billion in the previous year to ¥7.8 billion. However, the annual average crude oil price was below the previous year's level, while it surged to $121 at the end of the period against the backdrop of tensions in the Middle East. - FY2026-H1WorsenedAnnual report
「Including an accounting loss from inventory effects of ¥106.8 billion, compared with a loss of ¥62.2 billion in the same period of the previous year, equivalent operating profit excluding inventory effects was ¥178.1 billion, an increase of ¥123.4 billion year on year.」
Commodity market volatility, including the year-on-year decline in crude oil prices, was reflected in results as an accounting loss from inventory effects of ¥106.8 billion, widening from the ¥62.2 billion loss in the same period of the previous year. - FY2025MaterialisedAnnual report
「Including an accounting loss from inventory effects of ¥57.6 billion, compared with a profit of ¥71.7 billion in the same period of the previous year」
Commodity market volatility, including lower crude oil prices, was reflected in results as a change from inventory-effect profit in the previous year to an accounting loss of ¥57.6 billion. - FY2025-H1MaterialisedAnnual report
「Including an accounting loss from inventory effects of ¥62.2 billion, compared with a profit of ¥22.4 billion in the same period of the previous year」
The accounting profit from inventory effects in the same period of the previous year turned into a loss of ¥62.2 billion in the current interim consolidated accounting period, with the impact of commodity market volatility, including lower crude oil prices, being reflected in results. - FY2024MaterialisedAnnual report
「Dubai crude started the period at $84 per barrel, ended at $86, and averaged $82, down $11 year on year.」
The year-on-year declines in crude oil and copper prices continued, and commodity market volatility became reflected in the operating environment for the fiscal year. - FY2024-Q3MaterialisedAnnual report
「During the period, Dubai crude started at $84 per barrel, ended at $77, and averaged $83, down ¥14 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 407 cents per pound, ended at 384 cents, and averaged 378 cents, down 4 cents year on year.」
The year-on-year declines in crude oil and copper prices continued, and the Energy segment's accounting profit from inventory effects declined from ¥78.4 billion to ¥50.7 billion. The impact of lower commodity prices is being reflected in results. - FY2024-Q2MaterialisedAnnual report
「During the period, Dubai crude started at $84 per barrel, ended at $96, and averaged $82, down $20 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 407 cents per pound, ended at 373 cents, and averaged 382 cents, down 10 cents year on year.」
The year-on-year declines in crude oil and copper prices were reflected in results, and the Energy segment's accounting profit from inventory effects declined from ¥278.2 billion to ¥22.4 billion. - FY2024-Q1MaterialisedAnnual report
「During the period, Dubai crude started at $84 per barrel, ended at $77, and averaged $78, down $30 year on year.」
The decline in crude oil prices was reflected in results, and the Energy segment recorded an accounting loss of ¥30.9 billion from inventory effects, primarily attributable to lower crude oil prices. The average copper price was also 385 cents, down 47 cents year on year. - FY2023Crude oil prices up, copper prices downAnnual report
「Dubai crude started the period at $102 per barrel, ended at $78, and averaged $93, up $15 from the previous period.」
Crude oil prices rose to an average of $93, while copper prices fell 52 cents from the previous period to an average of 388 cents, resulting in divergent trends in commodity markets. - FY2023-Q3Crude oil prices up, copper prices down, continuingAnnual report
「During the period, Dubai crude started at $102 per barrel, ended at $79, and averaged $97, up $25 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 465 cents per pound, ended at 380 cents, and averaged 382 cents, down 53 cents year on year.」
Crude oil prices remained high, while copper prices fell year on year. Profit from inventory effects, primarily attributable to higher crude oil prices, declined from ¥256.8 billion to ¥78.4 billion. - FY2023-Q2Crude oil prices up, copper prices down, continuingAnnual report
「Dubai crude started the period at $102 per barrel, ended at $90, and averaged $102, up $33 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 465 cents per pound, ended at 347 cents, and averaged 392 cents, down 41 cents year on year.」
Crude oil prices rose while copper prices fell, resulting in an accounting profit from inventory effects of ¥278.2 billion, primarily attributable to higher crude oil prices, compared with ¥169.2 billion in the same period of the previous year. - FY2023-Q1Crude oil prices up, copper prices downAnnual report
「During the period, Dubai crude started at $102 per barrel, ended at $113, and averaged $108, up $41 year on year.」
Crude oil prices remained high, while copper prices turned lower amid concerns about an economic slowdown in China and a recession caused by monetary tightening. Commodity market volatility continues to affect results. - FY2022Higher crude oil and copper prices and increased profitAnnual report
「Dubai crude stood at $62 per barrel at the start of the period, then rose during the period on expectations of an economic recovery as COVID-19 vaccinations progressed and amid tightening energy supply and demand resulting from coordinated production cuts by OPEC+.」
Crude oil prices rose temporarily to $128 toward the end of the period, while copper prices rose to 487 cents, contributing to higher profit including inventory effects. - FY2022-Q3Surging crude oil and copper prices and an expanded inventory impact gainAnnual report
「During the period, Dubai crude started at $62 per barrel, ended at $77, and had a period average of $72, up $33 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 398 cents per pound, ended at 440 cents, and had a period average of 435 cents, up 147 cents year on year.」
Crude oil and copper prices were well above the prior-year period, and the accounting gain from the inventory impact, mainly due to higher crude oil prices, was ¥256.8 billion, compared with a loss of ¥27.1 billion in the prior-year period. Conditions remain in which market volatility has a substantial impact on profit. - FY2022-Q2Higher crude oil and copper prices and an expanded inventory impact gainAnnual report
「Dubai crude started at $62 per barrel, ended at $76, and had a period average of $69, up $32 year on year.」
Crude oil and copper prices were well above the prior-year period, and the accounting gain from the inventory impact, mainly due to higher crude oil prices, was ¥169.2 billion. The risk of market volatility remains, but rising prices contributed to profit in the quarter. - FY2022-Q1Higher crude oil and copper prices and an inventory impact gainAnnual report
「During the period, Dubai crude started at $62 per barrel, ended at $73, and had a period average of $67, up $36 year on year. The international copper price, based on the LME (London Metal Exchange) price, started at 398 cents per pound, ended at 426 cents, and had a period average of 440 cents, up 198 cents year on year.」
Crude oil and copper prices were well above the prior-year period, and the energy business recorded an accounting gain of ¥87.5 billion from the inventory impact, mainly due to higher crude oil prices. - FY2021Crude oil recovery, higher copper prices and reversal of inventory write-downsAnnual report
「Reflecting weak demand caused by the COVID-19 pandemic, Dubai crude stood at $21 per barrel at the start of the period. Against the backdrop of coordinated production cuts by OPEC+ and expectations of a recovery in demand as economic activity resumed, it recovered to $63 per barrel at the end of the period.」
Although the annual average crude oil price was below the prior year, it recovered at the end of the period, and inventory write-downs of ¥176,545 million were reversed, mainly due to higher crude oil prices. - FY2021-Q3MitigatedAnnual report
「An accounting loss of ¥27.1 billion arose from the inventory impact, mainly due to lower crude oil prices, compared with a loss of ¥48.8 billion in the prior-year period.」
Although crude oil prices remained low year on year, the inventory impact loss narrowed from ¥48.8 billion in the prior-year period to ¥27.1 billion. - FY2021-Q2MitigatedAnnual report
「During the period, Dubai crude started at $21 per barrel, ended at $40, and had a period average of $37, down $27 year on year.」
The average crude oil price recovered from $31 in the first quarter to $37 for the six months ended 30 September, and the inventory impact loss narrowed from ¥62.2 billion to ¥37.0 billion. However, prices remained low year on year, and the impact of commodity price fluctuations continues. - FY2021-Q1MaterialisedAnnual report
「Of this amount, an accounting loss of ¥62.2 billion arose from the inventory impact, mainly due to lower crude oil prices, compared with a loss of ¥18.7 billion in the prior-year period.」
The period-average crude oil price was $31 and the period-average copper price was 242 cents, both below the prior-year period. The inventory impact loss from lower crude oil prices increased from ¥18.7 billion in the prior-year period to ¥62.2 billion. - FY2020MaterialisedAnnual report
「Dubai crude stood at $68 per barrel at the start of the period. In addition to concerns about weaker demand amid the spread of the novel coronavirus, it fell sharply as oversupply resulting from announcements by some oil-producing countries of increased crude oil production came into focus, ending the consolidated fiscal year at $23 per barrel.」
Crude oil prices fell sharply from $68 at the start of the period to $23 at the end, materializing as inventory valuation losses and weaker performance. Copper prices also fell to $4,797 at the end of the period. - FY2020-Q3MaterialisedAnnual report
「An accounting loss of ¥48.8 billion arose from the inventory impact, mainly due to lower crude oil prices, compared with a gain of ¥18.6 billion in the prior-year period.」
The decline in crude oil prices materialized as a shift from an inventory impact gain in the prior-year period to an accounting loss of ¥48.8 billion. - FY2020-Q2MaterialisedAnnual report
「An accounting loss of ¥38.1 billion arose from the inventory impact, mainly due to lower crude oil prices, compared with a gain of ¥99.6 billion in the prior-year period.」
The period-average crude oil price was $64, down $9 year on year, while the copper price was 270 cents, down 24 cents. The decline in commodity market prices materialized as an inventory impact loss. - FY2020-Q1MaterialisedAnnual report
「An accounting loss of ¥18.7 billion arose from the inventory impact, mainly due to lower crude oil prices, compared with a gain of ¥41.7 billion in the prior-year period.」
The decline in crude oil and commodity market prices materialized as a shift from an inventory impact gain in the prior-year period to an accounting loss of ¥18.7 billion. - FY2019RestatedAnnual report
「The Group sells petroleum products, petrochemical products and metal products, among others, and purchases crude oil, copper ore and other minerals used as their raw materials. Because these selling and purchase prices are affected by fluctuations in commodity market prices, the Group is exposed to commodity price risk.」
The risk that fluctuations in crude oil, petroleum product, petrochemical product and copper prices will affect earnings continues to be disclosed as a company-wide market risk. - FY2019-Q3Sharp decline in crude oil prices and a smaller inventory impact gainAnnual report
「Crude oil prices subsequently fell sharply amid a perceived oversupply resulting from the temporary easing of U.S. sanctions on Iran and the global economic slowdown, ending the period at $53. The period average was $71 per barrel, up $18 year on year.」
Crude oil prices rose to $83 during the period before plunging to $53 at the end of the period. The accounting gain from the inventory impact was ¥18.6 billion, down from ¥44.4 billion in the prior-year period. - FY2019-Q2Higher crude oil prices, copper price volatility and an expanded inventory impact gainAnnual report
「An accounting gain of ¥99.6 billion arose from the inventory impact, mainly due to higher crude oil prices, compared with a loss of ¥25.4 billion in the prior-year period.」
The period-average crude oil price was $73 and the copper price was 294 cents, both above the prior-year period, although copper prices fell at the end of the period amid concerns about an economic slowdown due to U.S.-China trade friction. The inventory impact gain from higher crude oil prices expanded from a loss in the prior-year period to a gain of ¥99.6 billion. - FY2019-Q1Higher crude oil and copper prices and an inventory impact gainAnnual report
「An accounting gain of ¥41.7 billion arose from the inventory impact, mainly due to higher crude oil prices, compared with a loss of ¥29.8 billion in the prior-year period.」
The period average for crude oil prices was $72, up $22 year on year, while copper prices were 312 cents, up 55 cents. The inventory impact therefore shifted from a loss in the prior-year period to a gain. - FY2018Higher crude oil and copper prices and an inventory impact gainAnnual report
「Dubai crude stood at $52 per barrel at the start of the period but fell to $44 in June amid concerns about oversupply resulting from increased production in oil-producing countries including the United States, Libya and Nigeria. It subsequently turned upward as coordinated production cuts by OPEC and major non-OPEC oil-producing countries were steadily implemented, along with concerns about geopolitical risks arising from political instability in the Middle East. It stood at $65 per barrel at the end of the consolidated fiscal year.」
Crude oil prices fell during the period before rising to $65 at the end of the period, while copper prices also rose against the backdrop of solid growth in China and expectations for EV demand. The increase in crude oil prices also resulted in a difference from operating profit excluding the inventory impact. - FY2018-Q3Inventory valuation gain from higher crude oil pricesAnnual report
「During the period, the price of Dubai crude fell from $52 per barrel at the start of the period to $44 amid moves by some oil-producing countries to increase production, but subsequently turned upward and reached $64 at the end of the period. The period average was $53, up $8 year on year.」
Although crude oil prices fluctuated during the period, the period average exceeded the prior-year period, and an accounting gain of ¥44.4 billion arose from the inventory impact, mainly due to higher crude oil prices. - FY2018-Q2MaterialisedAnnual report
「In addition, mainly as a result of the decline in crude oil prices during the period, an accounting loss of ¥25.4 billion arose from the inventory impact.」
The decline in crude oil prices during the period materialized as an accounting loss of ¥25.4 billion from the inventory impact. - FY2018-Q1MaterialisedAnnual report
「In addition, the decline in crude oil prices resulted in an accounting loss of ¥29.8 billion from the inventory impact.」
The decline in crude oil prices materialized as an accounting loss of ¥29.8 billion from the inventory impact. - FY2017RestatedAnnual report
「Dubai crude, Asia's benchmark crude oil price, stood at $36 per barrel at the start of the period. It rose amid expectations of a freeze on production increases by oil-producing countries, and following the agreement reached at the end of November 2016 between OPEC (the Organization of the Petroleum Exporting Countries) and major non-OPEC oil-producing countries to cut production, it stood at $51 per barrel at the end of the period.」
Although crude oil prices rose during the period, the business plan and risk disclosures continue to assume that market volatility will affect earnings. - FY2017-Q3RestatedAnnual report
「During the period, the price of crude oil, represented by Dubai crude, rose from $36 per barrel at the start of the period, driven partly by expectations of a freeze on production increases by oil-producing countries. Following agreement on specific production-cut proposals at the end of November, it rose above $50, ending the period at $54. The period average was $45, down $6 year on year.」
Although crude oil prices rose during the period, the period average was below the prior-year period. Copper prices also declined year on year on a period-average basis, and the risk of market volatility persists. - FY2017-Q2RestatedAnnual report
「Crude oil prices subsequently fell to $39 amid a perceived oversupply, but then rose again on expectations of production adjustments, ending the period at $45. The period average was $43, down $13 year on year.」
Crude oil prices fluctuated during the period, while the period average was below the prior-year period. Copper prices also remained low against the backdrop of slowing growth in China and other factors, and the risk of market volatility persists. - FY2017-Q1RestatedAnnual report
「The price of crude oil, represented by Dubai crude, rose from $36 per barrel at the start of the period, driven partly by expectations of a freeze on production increases by oil-producing countries, and reached $49 in early June. It then declined somewhat amid concerns about weaker demand in China and other factors, ending the period at $46. The period average was $43, down $18 year on year.」
Although crude oil prices rose from the start of the period, the period average was below the prior-year period. Copper prices also remained low amid concerns about slowing growth in China and other factors, and the risk of market volatility persists. - FY2016First statedAnnual report
「Amid sharp declines in crude oil and copper prices, major European and U.S. oil companies and resource development companies reduced new investments and sold assets, while also recording impairment losses.」
Dubai crude fell to $23 in January 2016 and stood at $35 at the end of the period, while copper was $4,311 per tonne in the same month and $4,856 at the end of the period. These developments were reported together with impairment losses and deficits.