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The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value. Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946.
- 10 Year Daily Chart
WTI Crude Oil Prices - 10 Year Daily Chart. Interactive...
- Crude Oil vs Gasoline Prices
This interactive chart compares the monthly price...
- Saudi Arabia Crude Oil Production
Interactive chart showing the monthly level of Saudi Arabia...
- Crude Oil Prices Today - Live Chart
Live interactive chart of West Texas Intermediate (WTI or...
- Oil Prices vs Natural Gas
This interactive chart compares the price performance of...
- 10 Year Daily Chart
Apr 13, 2022 · Oil Prices by Year: Average, High, Low, and Events . The following chart shows the nominal value for imported crude oil according to the U.S. Energy Information Administration. The first column shows the average annual price. It's followed by the monthly high and low oil prices for that year.
- Kimberly Amadeo
May 4, 2022 · Historical oil prices rose rapidly from 2004-2008. During that time, economic growth was fueling oil demand but there was little spare production capacity. By the second quarter of 2008, inflation-adjusted oil prices hit a high of $125 per barrel.
Oil prices jumped on the news and are now about 18% higher than they were before the November announcement. WTI crude is trading around $53.62 per barrel, while Brent crude is around $55.78 per barrel as of 9:28 a.m ET 20 December.
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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...
Since 1869 US crude oil prices adjusted for inflation have averaged $21.05 per barrel in 2006 dollars compared to $21.66 for world oil prices. Fifty percent of the time prices U.S. and world prices were below the median oil price of $16.71 per barrel.
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What affects oil prices and how do fluctuations impact the wider economy? We discuss rising inflation, post-pandemic recovery and the energy transition.
