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Crude Oil Prices - 70 Year Historical Chart. Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale.
Crude Oil - data, forecasts, historical chart - was last updated on June 28 of 2024. Crude Oil increased 10.53 USD/BBL or 14.70% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
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The absolute peak occurred in June 2008 with the highest inflation adjusted monthly average crude oil price of $145.93 / barrel. From there we see one of the sharpest drops in history. Note that the fall from the 1979 peak took until 1986 (7 years) to fall as much (percentage wise) as it lost in only six months from 2008-2009.
In nominal terms, we see a fall from $126.33 in June 2008 to $31.04 in February 09 but by June 09 oil is back to $61.46 and by April of 2011 it was back to $102.15. Fortunately, from there it decreased down to $76.90 in September but then started increasing again. The average for the year 2011 was $87.04. 2012 was very close with the nominal averag...
During the previous peak price back in 1979 the nominal monthly average oil price peaked at $38 per barrel (although the intraday prices spiked much higher). The common price quoted is the all time high for Crude Oil prices i.e. the price that the highest barrel ever sold for. That price doesnt really have any effect on the price consumers paid. Wh...
As we can see from the chart, inflation adjusted prices were higher in 2008 than they were in either 2011 or 1980, but in 1980 the prices stair-stepped down rather than falling sharply as they did in 2008. Part of the reason for this was that 2008 prices were driven by a speculative bubble while 1979-80 prices were driven up by OPEC. Another factor...
May 4, 2022 · Most recently, the COVID-19 pandemic and associated containment measures caused historical oil prices to drop by nearly 40% in three months. Oil prices have since risen 216% from their pandemic low, as of the first quarter of 2022. This is due to the economic recovery and Russia’s invasion of Ukraine.
Interactive daily chart of Brent (Europe) crude oil prices over the last ten years. Values shown are daily closing prices. The current price of Brent crude oil as of June 18, 2024 is $84.79 per barrel.
YearAverageclosing PriceYear OpenYear High2024$83.61$76.24$93.122023$82.49$80.36$97.102022$100.93$78.25$133.182021$70.86$50.37$85.76Oil Prices: Get the latest on WTI and BRENT Oil Price, Chart, News and Realtime Quotes.
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Why have oil prices risen 216% in 2022?
Jan 4, 2023 · The Brent crude oil spot price averaged $100/b in 2022, and the WTI spot price averaged $95/b. In the first half of 2022, geopolitical tension with Russia, culminating with Russia’s full-scale invasion of Ukraine on February 24, contributed to crude oil price increases.
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