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Oil Price (WTI) in 1994

The oil price (WTI) rose 25.2% in 1994, from $14.19 at the end of 1993 to $17.77. Its highest close was $20.72 on Jun 17, and its lowest $13.89 on Feb 16. The biggest one-day fall was −6.8% on Mar 28 and the biggest rise +6.0% on Apr 4. Adjusted for inflation, it gained 22.0%.

Change in 1994
+25.2%
$14.19 → $17.77
High
$20.72
Jun 17
Low
$13.89
Feb 16
After inflation
+22.0%
US CPI
Up days
129 of 252
longest run 8 up, 6 down
Below record
-56.7%
at the end of 1994

Oil Price (WTI), daily closes 1994

Numbers mark the events below
$15$17$20JanFebMarAprMayJunJulAugSepOctNovDec2Feb 16: Bear market low: $13.89, 39.7% below the peak.3Mar 28: Biggest one-day fall of the year: −6.8%.4Apr 4: Biggest one-day rise of the year: +6.0%.5Dec 20: Mexico devalues the peso, triggering the Mexican peso crisis; the peso is floated two days later.

Key Events in 1994

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

  1. 1
    Saturday, January 1
    North American Free Trade Agreement (NAFTA) enters into force. Source
    WTI oil: +2.3% next trading day (Jan 3) · +7.4% a month later
  2. 2
    Wednesday, February 16 From the data
    Bear market low: $13.89, 39.7% below the peak.
  3. 3
    Monday, March 28 From the data
    Biggest one-day fall of the year: −6.8%.
  4. 4
    Monday, April 4 From the data
    Biggest one-day rise of the year: +6.0%.
  5. 5
    Tuesday, December 20
    Mexico devalues the peso, triggering the Mexican peso crisis; the peso is floated two days later. Source
    WTI oil: +0.4% that day · +10.6% a month later

Biggest days of 1994

Best daysWorst days
Apr 4+6.0%Mar 28−6.8%
Apr 21+5.5%Apr 26−4.8%
Feb 24+4.5%Jan 10−4.4%
Jun 17+4.5%Dec 2−4.3%
Feb 1+4.4%Jan 12−3.9%

Volatility: 29.5% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$15.24+7.4%$15.50$14.36
Feb$14.50−4.9%$16.06$13.89
Mar$14.78+1.9%$15.37$14.14
Apr$16.92+14.5%$17.84$15.57
May$18.30+8.2%$18.93$16.85
Jun$19.37+5.8%$20.72$17.78
Jul$20.30+4.8%$20.40$19.15
Aug$17.60−13.3%$20.65$16.87
Sep$18.36+4.3%$18.36$16.72
Oct$18.16−1.1%$18.27$16.98
Nov$18.06−0.6%$18.97$17.38
Dec$17.77−1.6%$17.77$16.60

Other Markets in 1994

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)+25.2%$17.77
Dow Jones Industrial Average in 1994+2.1%3,834.44
S&P 500 in 1994−1.5%459.27
Nasdaq Composite in 1994−3.2%751.96
Russell 2000 in 1994−3.2%250.36
Nikkei 225 in 1994+13.2%19,723.00
Gold in 1994−2.2%$383.25
Silver in 1994−5.2%$4.85
Brent crude oil in 1994+23.1%$16.23
US 10-year Treasury yield in 1994+2.01 pp7.84%
1990199119921993199419951996199719981999

Oil Price (WTI) in 1994: FAQ

How much did the oil price (WTI) rise in 1994?

The oil price (WTI) rose 25.2% in 1994, from $14.19 at the end of 1993 to $17.77. Its highest close was $20.72 on Jun 17, and its lowest $13.89 on Feb 16. The biggest one-day fall was −6.8% on Mar 28 and the biggest rise +6.0% on Apr 4. Adjusted for inflation, it gained 22.0%.

What were the highest and lowest closes of the oil price (WTI) in 1994?

Highest: $20.72 on June 17, 1994. Lowest: $13.89 on February 16, 1994. It closed higher on 129 of 252 trading days.

What happened to the oil price (WTI) on January 1, 1994?

North American Free Trade Agreement (NAFTA) enters into force. The oil price (WTI) rose 2.3% on the next trading day (January 3, 1994), and was +7.4% 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.