CorganoGold Price
Free widgets Market open
Gold4,019.32−0.12%Silver54.20−0.72%Platinum1,574.11+0.41%Palladium1,056.33−0.01%
Gold/Silver74.15
DXY101.66+0.05%
US10Y4.95%−3.75%
WTI100.42+0.96%
S&P 5007,663−1.21%
Dow52,868+0.02%
Bitcoin81,844+0.65%
VIX19.03+14.09%

Oil Price (WTI) in 1987

The oil price (WTI) fell 6.6% in 1987, from $17.93 at the end of 1986 to $16.74. Its highest close was $22.44 on Jul 16, and its lowest $15.12 on Dec 21. The biggest one-day fall was −4.7% on Dec 16 and the biggest rise +9.8% on Dec 22. Adjusted for inflation, it lost 10.6%.

Change in 1987
−6.6%
$17.93 → $16.74
High
$22.44
Jul 16
Low
$15.12
Dec 21
After inflation
−10.6%
US CPI
Up days
122 of 252
longest run 7 up, 9 down
Below record
-36.9%
at the end of 1987

Oil Price (WTI), daily closes 1987

Numbers mark the events below
$16$19$22JanFebMarAprMayJunJulAugSepOctNovDec1Oct 19: Black Monday: Dow falls 508 points (22.6%), its largest one-day percentage drop.2Dec 14: Enters a bear market: 20% below its peak of $22.44 (July 16, 1987).3Dec 16: Biggest one-day fall of the year: −4.7%.4Dec 21: Bear market low: $15.12, 32.6% below the peak.5Dec 22: Biggest one-day rise of the year: +9.8%.

Key Events in 1987

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

  1. 1
    Monday, October 19
    Black Monday: Dow falls 508 points (22.6%), its largest one-day percentage drop. Source
    WTI oil: −2.2% that day · −7.6% a month later
  2. 2
    Monday, December 14 From the data
    Enters a bear market: 20% below its peak of $22.44 (July 16, 1987).
  3. 3
    Wednesday, December 16 From the data
    Biggest one-day fall of the year: −4.7%.
  4. 4
    Monday, December 21 From the data
    Bear market low: $15.12, 32.6% below the peak.
  5. 5
    Tuesday, December 22 From the data
    Biggest one-day rise of the year: +9.8%.

Biggest days of 1987

Best daysWorst days
Dec 22+9.8%Dec 16−4.7%
Mar 3+5.9%Dec 14−4.6%
Jul 28+4.1%Dec 15−4.1%
Aug 3+3.6%Feb 23−3.8%
Mar 5+3.4%Aug 17−3.3%

Volatility: 24.3% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$18.73+4.5%$19.13$17.98
Feb$16.45−12.2%$18.59$16.43
Mar$18.82+14.4%$18.94$16.43
Apr$18.76−0.3%$19.03$18.07
May$19.36+3.2%$19.97$18.84
Jun$20.22+4.4%$20.65$19.55
Jul$21.43+6.0%$22.44$20.47
Aug$19.76−7.8%$22.21$19.18
Sep$19.62−0.7%$19.77$18.99
Oct$19.96+1.7%$20.23$19.33
Nov$18.52−7.2%$19.64$18.28
Dec$16.74−9.6%$18.87$15.12

Other Markets in 1987

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)−6.6%$16.74
Dow Jones Industrial Average in 1987+2.3%1,938.83
S&P 500 in 1987+2.0%247.08
Nasdaq Composite in 1987−5.2%330.50
Nikkei 225 in 1987+14.6%21,564.00
Gold in 1987+24.5%$484.10
Silver in 1987+26.9%$6.70
US 10-year Treasury yield in 1987+1.60 pp8.83%
1986198719881989

Oil Price (WTI) in 1987: FAQ

How much did the oil price (WTI) fall in 1987?

The oil price (WTI) fell 6.6% in 1987, from $17.93 at the end of 1986 to $16.74. Its highest close was $22.44 on Jul 16, and its lowest $15.12 on Dec 21. The biggest one-day fall was −4.7% on Dec 16 and the biggest rise +9.8% on Dec 22. Adjusted for inflation, it lost 10.6%.

What were the highest and lowest closes of the oil price (WTI) in 1987?

Highest: $22.44 on July 16, 1987. Lowest: $15.12 on December 21, 1987. It closed higher on 122 of 252 trading days.

What happened to the oil price (WTI) on October 19, 1987?

Black Monday: Dow falls 508 points (22.6%), its largest one-day percentage drop. The oil price (WTI) fell 2.2% that day, and was −7.6% a month later.

Data: WTI Cushing spot price (EIA via FRED) from 1986, NYMEX front-month 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.