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Oil Price (WTI) in 2017

The oil price (WTI) rose 12.5% in 2017, from $53.72 at the end of 2016 to $60.42. Its highest close was $60.42 on Dec 29, and its lowest $42.53 on Jun 21. The biggest one-day fall was −5.4% on Mar 8 and the biggest rise +3.3% on Jul 25. Adjusted for inflation, it gained 10.1%.

Change in 2017
+12.5%
$53.72 → $60.42
High
$60.42
Dec 29
Low
$42.53
Jun 21
After inflation
+10.1%
US CPI
Up days
146 of 251
longest run 8 up, 7 down
Below record
-58.4%
at the end of 2017

Oil Price (WTI), daily closes 2017

Numbers mark the events below
$44$51$59JanFebMarAprMayJunJulAugSepOctNovDec1Mar 8: Biggest one-day fall of the year: −5.4%.2Jun 20: Enters a bear market: 20% below its peak of $54.45 (February 23, 2017).3Jun 21: Bear market low: $42.53, 21.9% below the peak.4Jul 25: Biggest one-day rise of the year: +3.3%.5Nov 2: Back above its pre-bear-market peak of $54.45 (February 23, 2017).6Dec 22: President Trump signs the Tax Cuts and Jobs Act, cutting the corporate tax rate to 21%.

Key Events in 2017

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

  1. 1
    Wednesday, March 8 From the data
    Biggest one-day fall of the year: −5.4%.
  2. 2
    Tuesday, June 20 From the data
    Enters a bear market: 20% below its peak of $54.45 (February 23, 2017).
  3. 3
    Wednesday, June 21 From the data
    Bear market low: $42.53, 21.9% below the peak.
  4. 4
    Tuesday, July 25 From the data
    Biggest one-day rise of the year: +3.3%.
  5. 5
    Thursday, November 2 From the data
    Back above its pre-bear-market peak of $54.45 (February 23, 2017).
  6. 6
    Friday, December 22
    President Trump signs the Tax Cuts and Jobs Act, cutting the corporate tax rate to 21%. Source
    WTI oil: +0.2% that day · +12.4% a month later

Biggest days of 2017

Best daysWorst days
Jul 25+3.3%Mar 8−5.4%
May 10+3.2%Jun 7−5.1%
Sep 25+3.1%May 4−4.8%
Nov 6+3.1%May 25−4.8%
Aug 18+3.0%Jul 5−4.1%

Volatility: 25.1% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$52.81−1.7%$53.99$50.82
Feb$54.01+2.3%$54.45$52.17
Mar$50.60−6.3%$53.83$47.34
Apr$49.33−2.5%$53.40$48.97
May$48.32−2.0%$51.47$45.52
Jun$46.04−4.7%$48.36$42.53
Jul$50.17+9.0%$50.17$44.23
Aug$47.23−5.9%$49.59$45.96
Sep$51.67+9.4%$52.22$47.29
Oct$54.38+5.2%$54.38$49.29
Nov$57.40+5.6%$58.95$54.30
Dec$60.42+5.3%$60.42$55.96

Other Markets in 2017

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)+12.5%$60.42
Dow Jones Industrial Average in 2017+25.1%24,719.22
S&P 500 in 2017+19.4%2,673.61
Nasdaq Composite in 2017+26.9%6,903.39
Russell 2000 in 2017+13.1%1,535.51
Nikkei 225 in 2017+19.1%22,764.94
Gold in 2017+13.5%$1,306.30
Silver in 2017+6.4%$16.92
Brent crude oil in 2017+18.7%$66.60
US 10-year Treasury yield in 2017−0.05 pp2.41%
2010201120122013201420152016201720182019

Oil Price (WTI) in 2017: FAQ

How much did the oil price (WTI) rise in 2017?

The oil price (WTI) rose 12.5% in 2017, from $53.72 at the end of 2016 to $60.42. Its highest close was $60.42 on Dec 29, and its lowest $42.53 on Jun 21. The biggest one-day fall was −5.4% on Mar 8 and the biggest rise +3.3% on Jul 25. Adjusted for inflation, it gained 10.1%.

What were the highest and lowest closes of the oil price (WTI) in 2017?

Highest: $60.42 on December 29, 2017. Lowest: $42.53 on June 21, 2017. It closed higher on 146 of 251 trading days.

What happened to the oil price (WTI) on December 22, 2017?

President Trump signs the Tax Cuts and Jobs Act, cutting the corporate tax rate to 21%. The oil price (WTI) rose 0.2% that day, and was +12.4% 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.