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Brent Oil Price in 2004

The brent oil price rose 33.3% in 2004, from $30.30 at the end of 2003 to $40.38. Its highest close was $52.28 on Oct 22 — a record that stood until March 3, 2005, and its lowest $29.02 on Feb 5. The biggest one-day fall was −6.9% on Dec 1 and the biggest rise +12.2% on Dec 15. Adjusted for inflation, it gained 29.1%.

Change in 2004
+33.3%
$30.30 → $40.38
High
$52.28
Oct 22
Low
$29.02
Feb 5
After inflation
+29.1%
US CPI
Up days
130 of 261
longest run 7 up, 8 down
Record highs
22
closing records

Brent Oil Price, daily closes 2004

Numbers mark the events below
$31$41$50previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Mar 17: Back above its pre-bear-market peak of $34.94 (March 10, 2003).2May 12: Back above its pre-bear-market peak of $37.43 (September 7, 2000).3Jul 30: sets the first of 22 record closing highs this year, at $41.47. Back above its pre-bear-market peak of $41.45 (September 27, 1990).4Oct 11: closes above $50 for the first time ($50.75).5Oct 22: Last record close of the year: $52.28.6Nov 12: Enters a bear market: 20% below its peak of $52.28 (October 22, 2004).7Dec 1: Biggest one-day fall of the year: −6.9%.8Dec 13: Bear market low: $36.77, 29.7% below the peak.9Dec 15: Biggest one-day rise of the year: +12.2%.

Key Events in 2004

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

  1. 1
    Wednesday, March 17 From the data
    Back above its pre-bear-market peak of $34.94 (March 10, 2003).
  2. 2
    Wednesday, May 12 From the data
    Back above its pre-bear-market peak of $37.43 (September 7, 2000).
  3. 3
    Friday, July 30 From the data
    sets the first of 22 record closing highs this year, at $41.47. Back above its pre-bear-market peak of $41.45 (September 27, 1990).
  4. 4
    Monday, October 11 From the data
    closes above $50 for the first time ($50.75).
  5. 5
    Friday, October 22 From the data
    Last record close of the year: $52.28.
  6. 6
    Friday, November 12 From the data
    Enters a bear market: 20% below its peak of $52.28 (October 22, 2004).
  7. 7
    Wednesday, December 1 From the data
    Biggest one-day fall of the year: −6.9%.
  8. 8
    Monday, December 13 From the data
    Bear market low: $36.77, 29.7% below the peak.
  9. 9
    Wednesday, December 15 From the data
    Biggest one-day rise of the year: +12.2%.

Biggest days of 2004

Best daysWorst days
Dec 15+12.2%Dec 1−6.9%
Jan 5+9.3%Dec 2−6.6%
Jul 1+7.1%Dec 22−5.4%
Sep 17+5.9%Nov 15−4.9%
Jun 1+5.5%Jun 3−4.6%

Volatility: 37.6% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$29.53−2.5%$32.55$29.47
Feb$32.94+11.5%$32.94$29.02
Mar$32.29−2.0%$34.95$32.04
Apr$35.23+9.1%$35.23$31.17
May$37.00+5.0%$39.22$34.97
Jun$33.22−10.2%$39.05$32.61
Jul$41.47+24.8%$41.47$35.36
Aug$39.80−4.0%$45.46$39.80
Sep$47.76+20.0%$47.76$39.91
Oct$48.16+0.8%$52.28$46.86
Nov$44.23−8.2%$46.84$39.32
Dec$40.38−8.7%$43.06$36.77

Other Markets in 2004

Change over the calendar year.

MarketChangeYear-end
Brent Oil Price+33.3%$40.38
Dow Jones Industrial Average in 2004+3.1%10,783.01
S&P 500 in 2004+9.0%1,211.92
Nasdaq Composite in 2004+8.6%2,175.44
Russell 2000 in 2004+17.0%651.57
Nikkei 225 in 2004+7.6%11,488.76
Gold in 2004+4.6%$435.60
Silver in 2004+14.2%$6.82
WTI crude oil in 2004+33.4%$43.36
US 10-year Treasury yield in 2004−0.03 pp4.24%
2000200120022003200420052006200720082009

Brent Oil Price in 2004: FAQ

How much did the brent oil price rise in 2004?

The brent oil price rose 33.3% in 2004, from $30.30 at the end of 2003 to $40.38. Its highest close was $52.28 on Oct 22 — a record that stood until March 3, 2005, and its lowest $29.02 on Feb 5. The biggest one-day fall was −6.9% on Dec 1 and the biggest rise +12.2% on Dec 15. Adjusted for inflation, it gained 29.1%.

What were the highest and lowest closes of the brent oil price in 2004?

Highest: $52.28 on October 22, 2004. Lowest: $29.02 on February 5, 2004. It closed higher on 130 of 261 trading days.

Did the brent oil price reach a record high in 2004?

Yes — 22 record closing highs, the last at $52.28 on October 22, 2004.

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.