Oil Price (WTI) in 2018

The oil price (WTI) fell 24.8% in 2018, from $60.42 at the end of 2017 to $45.41. Its highest close was $76.41 on Oct 3, and its lowest $42.53 on Dec 24. The biggest one-day fall was −7.7% on Nov 23 and the biggest rise +8.7% on Dec 26. Adjusted for inflation, it lost 26.3%.

Change in 2018

−24.8%

$60.42 → $45.41

High

$76.41

Oct 3

Low

$42.53

Dec 24

After inflation

−26.3%

US CPI

Up days

134 of 251

longest run 5 up, 12 down

Below record

-68.7%

at the end of 2018

Oil Price (WTI), daily closes 2018

Numbers mark the events below

Key Events in 2018

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

1
Wednesday, January 3 From the data

Back above its pre-bear-market peak of $61.43 (June 10, 2015).
2
Tuesday, May 8

President Trump announces US withdrawal from the Iran nuclear deal (JCPOA). Source

WTI oil: −2.4% that day · −8.5% a month later
3
Friday, July 6

US tariffs on $34 billion of Chinese goods take effect; China retaliates with matching tariffs. Source

WTI oil: +1.2% that day · −6.1% a month later
4
Wednesday, October 3

Brent crude peaks at $86.29 a barrel before falling about 22% in November. Source

WTI oil: +1.6% that day · −13.2% a month later
5
Thursday, November 8 From the data

Enters a bear market: 20% below its peak of $76.41 (October 3, 2018).
6
Friday, November 23 From the data

Biggest one-day fall of the year: −7.7%.
7
Monday, December 24 From the data

Bear market low: $42.53, 44.3% below the peak.
8
Wednesday, December 26 From the data

Biggest one-day rise of the year: +8.7%.

Biggest days of 2018

Best days		Worst days
Dec 26	+8.7%	Nov 23	−7.7%
Jun 22	+4.6%	Dec 18	−7.3%
Dec 3	+4.0%	Nov 13	−7.1%
Jun 26	+3.6%	Dec 24	−6.7%
Apr 10	+3.3%	Nov 20	−5.9%

Volatility: 31.2% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	$64.73	+7.1%	$66.14	$60.37
Feb	$61.64	−4.8%	$65.80	$59.19
Mar	$64.94	+5.4%	$65.88	$60.12
Apr	$68.57	+5.6%	$68.64	$62.06
May	$67.04	−2.2%	$72.24	$66.73
Jun	$74.15	+10.6%	$74.15	$64.73
Jul	$68.76	−7.3%	$74.14	$67.89
Aug	$69.80	+1.5%	$70.25	$65.01
Sep	$73.25	+4.9%	$73.25	$67.54
Oct	$65.31	−10.8%	$76.41	$65.31
Nov	$50.93	−22.0%	$63.69	$50.29
Dec	$45.41	−10.8%	$53.25	$42.53

Other Markets in 2018

Change over the calendar year.

Market	Change	Year-end
Oil Price (WTI)	−24.8%	$45.41
Dow Jones Industrial Average in 2018	−5.6%	23,327.46
S&P 500 in 2018	−6.2%	2,506.85
Nasdaq Composite in 2018	−3.9%	6,635.28
Russell 2000 in 2018	−12.2%	1,348.56
Nikkei 225 in 2018	−12.1%	20,014.77
Gold in 2018	−2.1%	$1,278.30
Silver in 2018	−8.8%	$15.43
Brent crude oil in 2018	−19.2%	$53.80
US 10-year Treasury yield in 2018	+0.28 pp	2.69%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Oil Price (WTI) in 2018: FAQ

How much did the oil price (WTI) fall in 2018?

What were the highest and lowest closes of the oil price (WTI) in 2018?

Highest: $76.41 on October 3, 2018. Lowest: $42.53 on December 24, 2018. It closed higher on 134 of 251 trading days.

What happened to the oil price (WTI) on May 8, 2018?

President Trump announces US withdrawal from the Iran nuclear deal (JCPOA). The oil price (WTI) fell 2.4% that day, and was −8.5% 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.