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Brent Oil Price in 1990

The brent oil price rose 34.7% in 1990, from $21.05 at the end of 1989 to $28.35. Its highest close was $41.45 on Sep 27 — a record that stood until July 30, 2004, and its lowest $14.68 on Jun 8. The biggest one-day fall was −17.3% on Oct 22 and the biggest rise +13.1% on Aug 6. Adjusted for inflation, it gained 26.9%.

Change in 1990
+34.7%
$21.05 → $28.35
High
$41.45
Sep 27
Low
$14.68
Jun 8
After inflation
+26.9%
US CPI
Up days
132 of 256
longest run 6 up, 6 down
Record highs
17
closing records

Brent Oil Price, daily closes 1990

Numbers mark the events below
$17$28$39previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 3: sets the first of 17 record closing highs this year, at $22.65. Back above its pre-bear-market peak of $22.25 (April 20, 1989).2Mar 12: Enters a bear market: 20% below its peak of $23.13 (January 5, 1990).3Jun 8: Bear market low: $14.68, 36.5% below the peak.4Aug 2: Iraq invades Kuwait, beginning the Gulf crisis.5Aug 3: Back above its pre-bear-market peak of $23.13 (January 5, 1990).6Aug 6: UN Security Council Resolution 661 imposes economic sanctions on Iraq, including an embargo on its oil.7Aug 22: closes above $30 for the first time ($30.45).8Sep 24: closes above $40 for the first time ($40.75).9Sep 27: Last record close of the year: $41.45.10Oct 22: Enters a bear market: 20% below its peak of $41.45 (September 27, 1990). Bear market low: $27.45, 33.8% below the peak. Biggest one-day fall of the year: −17.3%.11Nov 29: UN Security Council Resolution 678 sets a 15 January 1991 deadline for Iraq to leave Kuwait.12Dec 6: Enters a bear market: 20% below its peak of $35.65 (November 1, 1990).

Key Events in 1990

What happened, and how the Brent oil moved — on the day (or the next trading day) and about a month later.

  1. 1
    Wednesday, January 3 From the data
    sets the first of 17 record closing highs this year, at $22.65. Back above its pre-bear-market peak of $22.25 (April 20, 1989).
  2. 2
    Monday, March 12 From the data
    Enters a bear market: 20% below its peak of $23.13 (January 5, 1990).
  3. 3
    Friday, June 8 From the data
    Bear market low: $14.68, 36.5% below the peak.
  4. 4
    Thursday, August 2
    Iraq invades Kuwait, beginning the Gulf crisis. Source
    Brent oil: +11.6% that day · +38.0% a month later
  5. 5
    Friday, August 3 From the data
    Back above its pre-bear-market peak of $23.13 (January 5, 1990).
  6. 6
    Monday, August 6
    UN Security Council Resolution 661 imposes economic sanctions on Iraq, including an embargo on its oil. Source
    Brent oil: +13.1% that day · +26.5% a month later
  7. 7
    Wednesday, August 22 From the data
    closes above $30 for the first time ($30.45).
  8. 8
    Monday, September 24 From the data
    closes above $40 for the first time ($40.75).
  9. 9
    Thursday, September 27 From the data
    Last record close of the year: $41.45.
  10. 10
    Monday, October 22 From the data
    Enters a bear market: 20% below its peak of $41.45 (September 27, 1990). Bear market low: $27.45, 33.8% below the peak. Biggest one-day fall of the year: −17.3%.
  11. 11
    Thursday, November 29
    UN Security Council Resolution 678 sets a 15 January 1991 deadline for Iraq to leave Kuwait. Source
    Brent oil: +1.6% that day · −19.6% a month later
  12. 12
    Thursday, December 6 From the data
    Enters a bear market: 20% below its peak of $35.65 (November 1, 1990).

Biggest days of 1990

Best daysWorst days
Aug 6+13.1%Oct 22−17.3%
Aug 2+11.6%Aug 27−12.6%
Sep 24+10.3%Nov 30−10.0%
Sep 3+9.8%Dec 6−9.4%
Nov 26+9.5%Oct 17−9.2%

Volatility: 55.4% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$20.50−2.6%$23.13$20.18
Feb$19.20−6.3%$20.73$18.78
Mar$17.95−6.5%$19.33$17.75
Apr$16.35−8.9%$18.20$15.30
May$15.30−6.4%$17.40$15.30
Jun$15.73+2.8%$15.73$14.68
Jul$19.23+22.3%$19.23$14.98
Aug$27.80+44.6%$32.35$19.93
Sep$41.00+47.5%$41.45$30.08
Oct$34.30−16.3%$41.15$27.45
Nov$31.20−9.0%$35.65$30.10
Dec$28.35−9.1%$31.50$26.90

Other Markets in 1990

Change over the calendar year.

MarketChangeYear-end
Brent Oil Price+34.7%$28.35
Dow Jones Industrial Average in 1990−4.3%2,633.66
S&P 500 in 1990−6.6%330.22
Nasdaq Composite in 1990−17.8%373.80
Russell 2000 in 1990−21.5%132.20
Nikkei 225 in 1990−38.7%23,849.00
Gold in 1990−3.1%$386.20
Silver in 1990−19.6%$4.19
WTI crude oil in 1990+30.4%$28.48
US 10-year Treasury yield in 1990+0.15 pp8.08%
1990199119921993199419951996199719981999

Brent Oil Price in 1990: FAQ

How much did the brent oil price rise in 1990?

The brent oil price rose 34.7% in 1990, from $21.05 at the end of 1989 to $28.35. Its highest close was $41.45 on Sep 27 — a record that stood until July 30, 2004, and its lowest $14.68 on Jun 8. The biggest one-day fall was −17.3% on Oct 22 and the biggest rise +13.1% on Aug 6. Adjusted for inflation, it gained 26.9%.

What were the highest and lowest closes of the brent oil price in 1990?

Highest: $41.45 on September 27, 1990. Lowest: $14.68 on June 8, 1990. It closed higher on 132 of 256 trading days.

What happened to the brent oil price on August 6, 1990?

UN Security Council Resolution 661 imposes economic sanctions on Iraq, including an embargo on its oil. The brent oil price rose 13.1% that day, and was +26.5% a month later.

Did the brent oil price reach a record high in 1990?

Yes — 17 record closing highs, the last at $41.45 on September 27, 1990.

Data: Europe Brent spot price (EIA) from 1987, ICE Brent futures closes after that. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.