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Brent Oil Price in 2007

The brent oil price rose 58.9% in 2007, from $58.96 at the end of 2006 to $93.68. Its highest close was $95.92 on Dec 28 — a record that stood until January 2, 2008, and its lowest $49.95 on Jan 12. The biggest one-day fall was −3.9% on Nov 30 and the biggest rise +6.1% on Oct 29. Adjusted for inflation, it gained 52.7%.

Change in 2007
+58.9%
$58.96 → $93.68
High
$95.92
Dec 28
Low
$49.95
Jan 12
After inflation
+52.7%
US CPI
Up days
138 of 250
longest run 11 up, 4 down
Record highs
17
closing records

Brent Oil Price, daily closes 2007

Numbers mark the events below
$54$73$92previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 12: Bear market low: $49.95, 36.2% below the peak.2Jul 19: sets the first of 17 record closing highs this year, at $78.37. Back above its pre-bear-market peak of $78.26 (August 9, 2006).3Aug 9: BNP Paribas closes funds exposed to US subprime mortgages, marking the start of the credit crunch.4Sep 14: Northern Rock receives Bank of England emergency support, triggering a run on the bank.5Sep 28: closes above $80 for the first time ($80.97).6Oct 29: Biggest one-day rise of the year: +6.1%.7Nov 1: closes above $90 for the first time ($90.36).8Nov 30: Biggest one-day fall of the year: −3.9%.9Dec 28: Last record close of the year: $95.92.

Key Events in 2007

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

  1. 1
    Friday, January 12 From the data
    Bear market low: $49.95, 36.2% below the peak.
  2. 2
    Thursday, July 19 From the data
    sets the first of 17 record closing highs this year, at $78.37. Back above its pre-bear-market peak of $78.26 (August 9, 2006).
  3. 3
    Thursday, August 9
    BNP Paribas closes funds exposed to US subprime mortgages, marking the start of the credit crunch. Source
    Brent oil: −0.9% that day · +6.2% a month later
  4. 4
    Friday, September 14
    Northern Rock receives Bank of England emergency support, triggering a run on the bank. Source
    Brent oil: +0.6% that day · +3.8% a month later
  5. 5
    Friday, September 28 From the data
    closes above $80 for the first time ($80.97).
  6. 6
    Monday, October 29 From the data
    Biggest one-day rise of the year: +6.1%.
  7. 7
    Thursday, November 1 From the data
    closes above $90 for the first time ($90.36).
  8. 8
    Friday, November 30 From the data
    Biggest one-day fall of the year: −3.9%.
  9. 9
    Friday, December 28 From the data
    Last record close of the year: $95.92.

Biggest days of 2007

Best daysWorst days
Oct 29+6.1%Nov 30−3.9%
Feb 16+4.7%May 7−3.7%
Dec 12+4.5%Jan 4−3.6%
Dec 27+4.4%Aug 16−3.5%
Jan 22+3.9%Aug 6−3.5%

Volatility: 27.8% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$56.52−4.1%$58.49$49.95
Feb$59.39+5.1%$60.38$54.25
Mar$68.47+15.3%$68.47$59.68
Apr$67.23−1.8%$69.15$65.09
May$68.18+1.4%$71.96$62.70
Jun$72.22+5.9%$72.36$68.56
Jul$77.01+6.6%$79.09$72.90
Aug$72.29−6.1%$77.11$67.73
Sep$80.97+12.0%$80.97$74.22
Oct$89.87+11.0%$89.87$76.87
Nov$88.71−1.3%$95.33$88.71
Dec$93.68+5.6%$95.92$87.33

Other Markets in 2007

Change over the calendar year.

MarketChangeYear-end
Brent Oil Price+58.9%$93.68
Dow Jones Industrial Average in 2007+6.4%13,264.82
S&P 500 in 2007+3.5%1,468.36
Nasdaq Composite in 2007+9.8%2,652.28
Russell 2000 in 2007−2.7%766.03
Nikkei 225 in 2007−11.1%15,307.78
Gold in 2007+31.9%$833.75
Silver in 2007+14.4%$14.76
WTI crude oil in 2007+57.7%$95.95
US 10-year Treasury yield in 2007−0.67 pp4.04%
2000200120022003200420052006200720082009

Brent Oil Price in 2007: FAQ

How much did the brent oil price rise in 2007?

The brent oil price rose 58.9% in 2007, from $58.96 at the end of 2006 to $93.68. Its highest close was $95.92 on Dec 28 — a record that stood until January 2, 2008, and its lowest $49.95 on Jan 12. The biggest one-day fall was −3.9% on Nov 30 and the biggest rise +6.1% on Oct 29. Adjusted for inflation, it gained 52.7%.

What were the highest and lowest closes of the brent oil price in 2007?

Highest: $95.92 on December 28, 2007. Lowest: $49.95 on January 12, 2007. It closed higher on 138 of 250 trading days.

What happened to the brent oil price on August 9, 2007?

BNP Paribas closes funds exposed to US subprime mortgages, marking the start of the credit crunch. The brent oil price fell 0.9% that day, and was +6.2% a month later.

Did the brent oil price reach a record high in 2007?

Yes — 17 record closing highs, the last at $95.92 on December 28, 2007.

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.