CorganoGold Price
Market open
Gold4,120.12−0.46%Silver57.49−0.79%Platinum1,615.74−0.89%Palladium1,077.07−1.53%
Gold/Silver71.66
DXY101.71−0.07%
US10Y5.15%+0.57%
WTI97.98+0.85%
S&P 5007,757+0.58%
Dow52,856+0.69%
Bitcoin84,153+0.15%
VIX16.68−3.64%

Oil Price (WTI) in 2016

The oil price (WTI) rose 45.0% in 2016, from $37.04 at the end of 2015 to $53.72. Its highest close was $54.06 on Dec 28, and its lowest $26.21 on Feb 11. The biggest one-day fall was −6.7% on Jan 20 and the biggest rise +12.3% on Feb 12. Adjusted for inflation, it gained 42.1%.

Change in 2016
+45.0%
$37.04 → $53.72
High
$54.06
Dec 28
Low
$26.21
Feb 11
After inflation
+42.1%
US CPI
Up days
130 of 250
longest run 8 up, 7 down
Below record
-63.0%
at the end of 2016

Oil Price (WTI), daily closes 2016

Numbers mark the events below
$29$40$51JanFebMarAprMayJunJulAugSepOctNovDec1Jan 20: Bear market low: $26.55, 46.5% below the peak. Biggest one-day fall of the year: −6.7%.2Feb 11: WTI crude settles at $26.21 a barrel, its lowest settlement since May 2003.3Feb 11: Enters a bear market: 20% below its peak of $33.62 (January 29, 2016). Bear market low: $26.21, 22.0% below the peak.4Feb 12: Biggest one-day rise of the year: +12.3%.5Feb 29: Back above its pre-bear-market peak of $33.62 (January 29, 2016).6Jun 6: Back above its pre-bear-market peak of $49.63 (October 9, 2015).7Jun 23: UK votes 51.9% to 48.1% to leave the EU; sterling falls to its lowest level since 1985 as results come in.8Aug 1: Enters a bear market: 20% below its peak of $51.23 (June 8, 2016).9Aug 2: Bear market low: $39.51, 22.9% below the peak.10Oct 19: Back above its pre-bear-market peak of $51.23 (June 8, 2016).11Nov 8: Donald Trump wins the US presidential election.12Nov 30: OPEC agrees to cut output by 1.2 million barrels per day, its first production cut since 2008.

Key Events in 2016

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

  1. 1
    Wednesday, January 20 From the data
    Bear market low: $26.55, 46.5% below the peak. Biggest one-day fall of the year: −6.7%.
  2. 2
    Thursday, February 11
    WTI crude settles at $26.21 a barrel, its lowest settlement since May 2003. Source
    WTI oil: −4.5% that day · +40.3% a month later
  3. 3
    Thursday, February 11 From the data
    Enters a bear market: 20% below its peak of $33.62 (January 29, 2016). Bear market low: $26.21, 22.0% below the peak.
  4. 4
    Friday, February 12 From the data
    Biggest one-day rise of the year: +12.3%.
  5. 5
    Monday, February 29 From the data
    Back above its pre-bear-market peak of $33.62 (January 29, 2016).
  6. 6
    Monday, June 6 From the data
    Back above its pre-bear-market peak of $49.63 (October 9, 2015).
  7. 7
    Thursday, June 23
    UK votes 51.9% to 48.1% to leave the EU; sterling falls to its lowest level since 1985 as results come in. Source
    WTI oil: +2.0% that day · −10.1% a month later
  8. 8
    Monday, August 1 From the data
    Enters a bear market: 20% below its peak of $51.23 (June 8, 2016).
  9. 9
    Tuesday, August 2 From the data
    Bear market low: $39.51, 22.9% below the peak.
  10. 10
    Wednesday, October 19 From the data
    Back above its pre-bear-market peak of $51.23 (June 8, 2016).
  11. 11
    Tuesday, November 8
    Donald Trump wins the US presidential election. Source
    WTI oil: +0.2% that day · +13.3% a month later
  12. 12
    Wednesday, November 30
    OPEC agrees to cut output by 1.2 million barrels per day, its first production cut since 2008. Source
    WTI oil: +9.3% that day · +18.9% a month later

Biggest days of 2016

Best daysWorst days
Feb 12+12.3%Jan 20−6.7%
Jan 21+11.2%Feb 1−5.9%
Nov 30+9.3%Feb 9−5.9%
Jan 22+9.0%Jan 25−5.7%
Feb 3+8.0%Jan 15−5.7%

Volatility: 47.5% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$33.62−9.2%$36.76$26.55
Feb$33.75+0.4%$33.75$26.21
Mar$38.34+13.6%$41.45$34.40
Apr$45.92+19.8%$46.03$35.70
May$49.10+6.9%$49.56$43.44
Jun$48.33−1.6%$51.23$46.21
Jul$41.60−13.9%$48.99$41.14
Aug$44.70+7.5%$48.52$39.51
Sep$48.24+7.9%$48.24$43.03
Oct$46.86−2.9%$51.60$46.86
Nov$49.44+5.5%$49.44$43.32
Dec$53.72+8.7%$54.06$49.77

Other Markets in 2016

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)+45.0%$53.72
Dow Jones Industrial Average in 2016+13.4%19,762.60
S&P 500 in 2016+9.5%2,238.83
Nasdaq Composite in 2016+7.8%5,440.17
Russell 2000 in 2016+19.5%1,357.13
Nikkei 225 in 2016+0.4%19,114.37
Gold in 2016+8.5%$1,150.90
Silver in 2016+14.9%$15.90
Brent crude oil in 2016+50.6%$56.13
US 10-year Treasury yield in 2016+0.18 pp2.45%
2010201120122013201420152016201720182019

Oil Price (WTI) in 2016: FAQ

How much did the oil price (WTI) rise in 2016?

The oil price (WTI) rose 45.0% in 2016, from $37.04 at the end of 2015 to $53.72. Its highest close was $54.06 on Dec 28, and its lowest $26.21 on Feb 11. The biggest one-day fall was −6.7% on Jan 20 and the biggest rise +12.3% on Feb 12. Adjusted for inflation, it gained 42.1%.

What were the highest and lowest closes of the oil price (WTI) in 2016?

Highest: $54.06 on December 28, 2016. Lowest: $26.21 on February 11, 2016. It closed higher on 130 of 250 trading days.

What happened to the oil price (WTI) on November 30, 2016?

OPEC agrees to cut output by 1.2 million barrels per day, its first production cut since 2008. The oil price (WTI) rose 9.3% that day, and was +18.9% 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.