Brent Oil Price in 1997

The brent oil price fell 33.6% in 1997, from $23.90 at the end of 1996 to $15.86. Its highest close was $24.83 on Jan 9, and its lowest $15.86 on Dec 31. The biggest one-day fall was −5.2% on Feb 10 and the biggest rise +6.0% on Oct 3. Adjusted for inflation, it lost 34.8%.

Change in 1997

−33.6%

$23.90 → $15.86

High

$24.83

Jan 9

Low

$15.86

Dec 31

After inflation

−34.8%

US CPI

Up days

113 of 248

longest run 6 up, 7 down

Below record

-61.7%

at the end of 1997

Brent Oil Price, daily closes 1997

Numbers mark the events below

Key Events in 1997

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

1
Monday, February 10 From the data

Biggest one-day fall of the year: −5.2%.
2
Friday, February 21 From the data

Enters a bear market: 20% below its peak of $25.40 (October 22, 1996).
3
Wednesday, June 11 From the data

Bear market low: $16.69, 34.3% below the peak.
4
Wednesday, July 2

Thailand floats the baht, starting the Asian financial crisis. Source

Brent oil: +3.3% that day · +6.1% a month later
5
Friday, October 3 From the data

Biggest one-day rise of the year: +6.0%.
6
Thursday, October 23

Hong Kong Monetary Authority raises overnight rates to defend the dollar peg as the Hang Seng slumps. Source

Brent oil: +0.2% that day · −5.2% a month later
7
Thursday, December 11 From the data

Enters a bear market: 20% below its peak of $21.29 (October 3, 1997).

Biggest days of 1997

Best days		Worst days
Oct 3	+6.0%	Feb 10	−5.2%
May 12	+4.3%	Dec 1	−5.0%
Jun 23	+4.2%	May 27	−4.1%
Jul 2	+3.3%	Dec 29	−4.0%
Jul 17	+3.1%	Oct 28	−3.9%

Volatility: 28.2% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	$23.28	−2.6%	$24.83	$22.56
Feb	$19.44	−16.5%	$22.91	$19.44
Mar	$18.53	−4.7%	$20.00	$18.53
Apr	$18.25	−1.5%	$18.27	$16.92
May	$18.99	+4.1%	$20.15	$17.70
Jun	$18.22	−4.1%	$19.17	$16.69
Jul	$18.94	+4.0%	$19.02	$17.79
Aug	$17.98	−5.1%	$19.64	$17.58
Sep	$19.96	+11.0%	$19.96	$17.92
Oct	$19.42	−2.7%	$21.29	$18.86
Nov	$18.96	−2.4%	$20.24	$18.50
Dec	$15.86	−16.4%	$18.04	$15.86

Other Markets in 1997

Change over the calendar year.

Market	Change	Year-end
Brent Oil Price	−33.6%	$15.86
Dow Jones Industrial Average in 1997	+22.6%	7,908.24
S&P 500 in 1997	+31.0%	970.43
Nasdaq Composite in 1997	+21.6%	1,570.35
Russell 2000 in 1997	+20.5%	437.02
Nikkei 225 in 1997	−21.2%	15,259.00
Gold in 1997	−21.4%	$290.20
Silver in 1997	+25.4%	$5.98
WTI crude oil in 1997	−31.9%	$17.65
US 10-year Treasury yield in 1997	−0.68 pp	5.75%

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

Brent Oil Price in 1997: FAQ

How much did the brent oil price fall in 1997?

What were the highest and lowest closes of the brent oil price in 1997?

Highest: $24.83 on January 9, 1997. Lowest: $15.86 on December 31, 1997. It closed higher on 113 of 248 trading days.

What happened to the brent oil price on July 2, 1997?

Thailand floats the baht, starting the Asian financial crisis. The brent oil price rose 3.3% that day, and was +6.1% a month later.

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.