Crude oil and Energy in farming

Their prices have moved together.

Crude oil (energy) and Energy in farming (energy): 1 relationship.

How they are linked

1. Price link: fuel source

Cost and price · Strong · Both ways

Diesel is refined from crude oil, so farm fuel costs follow oil. Monthly moves correlate at 0.70 with Brent, with the gap reflecting refining margins for diesel, which widen when refineries are short of capacity.

• 0.70 monthly change correlation
• 0.93 12-month change correlation
• 0.90 fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.