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Oil Price (WTI) in 2022

The oil price (WTI) rose 6.7% in 2022, from $75.21 at the end of 2021 to $80.26. Its highest close was $123.70 on Mar 8, and its lowest $71.02 on Dec 9. The biggest one-day fall was −12.1% on Mar 9 and the biggest rise +8.4% on Mar 17. Adjusted for inflation, it gained 0.2%.

Change in 2022
+6.7%
$75.21 → $80.26
High
$123.70
Mar 8
Low
$71.02
Dec 9
After inflation
+0.2%
US CPI
Up days
135 of 251
longest run 6 up, 6 down
Below record
-44.8%
at the end of 2022

Oil Price (WTI), daily closes 2022

Numbers mark the events below
$76$97$119JanFebMarAprMayJunJulAugSepOctNovDec1Jan 18: Back above its pre-bear-market peak of $84.65 (October 26, 2021).2Feb 24: Russia launches a full-scale invasion of Ukraine; Russia's RTS index falls 39%.3Mar 4: Back above its pre-bear-market peak of $110.62 (September 6, 2013). Back above its pre-bear-market peak of $113.39 (April 29, 2011).4Mar 8: President Biden announces a ban on US imports of Russian oil.5Mar 8: Back above its pre-bear-market peak of $122.61 (September 22, 2008).6Mar 9: Biggest one-day fall of the year: −12.1%.7Mar 15: Enters a bear market: 20% below its peak of $123.70 (March 8, 2022).8Mar 16: Bear market low: $95.04, 23.2% below the peak.9Mar 17: Biggest one-day rise of the year: +8.4%.10Jul 12: Enters a bear market: 20% below its peak of $122.11 (June 8, 2022).11Sep 26: Bear market low: $76.71, 37.2% below the peak.12Dec 7: Enters a bear market: 20% below its peak of $92.64 (October 7, 2022).

Key Events in 2022

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

  1. 1
    Tuesday, January 18 From the data
    Back above its pre-bear-market peak of $84.65 (October 26, 2021).
  2. 2
    Thursday, February 24
    Russia launches a full-scale invasion of Ukraine; Russia's RTS index falls 39%. Source
    WTI oil: +0.8% that day · +22.0% a month later
  3. 3
    Friday, March 4 From the data
    Back above its pre-bear-market peak of $110.62 (September 6, 2013). Back above its pre-bear-market peak of $113.39 (April 29, 2011).
  4. 4
    Tuesday, March 8
    President Biden announces a ban on US imports of Russian oil. Source
    WTI oil: +3.6% that day · −14.6% a month later
  5. 5
    Tuesday, March 8 From the data
    Back above its pre-bear-market peak of $122.61 (September 22, 2008).
  6. 6
    Wednesday, March 9 From the data
    Biggest one-day fall of the year: −12.1%.
  7. 7
    Tuesday, March 15 From the data
    Enters a bear market: 20% below its peak of $123.70 (March 8, 2022).
  8. 8
    Wednesday, March 16 From the data
    Bear market low: $95.04, 23.2% below the peak.
  9. 9
    Thursday, March 17 From the data
    Biggest one-day rise of the year: +8.4%.
  10. 10
    Tuesday, July 12 From the data
    Enters a bear market: 20% below its peak of $122.11 (June 8, 2022).
  11. 11
    Monday, September 26 From the data
    Bear market low: $76.71, 37.2% below the peak.
  12. 12
    Wednesday, December 7 From the data
    Enters a bear market: 20% below its peak of $92.64 (October 7, 2022).

Biggest days of 2022

Best daysWorst days
Mar 17+8.4%Mar 9−12.1%
Mar 1+8.0%Jul 5−8.2%
Mar 4+7.4%Jul 12−7.9%
Mar 21+7.1%Mar 31−7.0%
Mar 2+7.0%Mar 28−7.0%

Volatility: 48.2% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$88.15+17.2%$88.15$76.08
Feb$95.72+8.6%$95.72$88.20
Mar$100.28+4.8%$123.70$95.04
Apr$104.69+4.4%$108.21$94.29
May$114.67+9.5%$115.07$99.76
Jun$105.76−7.8%$122.11$104.27
Jul$98.62−6.8%$108.43$94.70
Aug$89.55−9.2%$97.01$86.53
Sep$79.49−11.2%$88.48$76.71
Oct$86.53+8.9%$92.64$82.82
Nov$80.55−6.9%$92.61$76.28
Dec$80.26−0.4%$81.22$71.02

Other Markets in 2022

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)+6.7%$80.26
Dow Jones Industrial Average in 2022−8.8%33,147.25
S&P 500 in 2022−19.4%3,839.50
Nasdaq Composite in 2022−33.1%10,466.48
Russell 2000 in 2022−21.6%1,761.25
Nikkei 225 in 2022−9.4%26,094.50
Gold in 2022−0.1%$1,826.20
Silver in 2022+2.3%$23.86
Brent crude oil in 2022+10.5%$85.91
US 10-year Treasury yield in 2022+2.37 pp3.88%
2020202120222023202420252026

Oil Price (WTI) in 2022: FAQ

How much did the oil price (WTI) rise in 2022?

The oil price (WTI) rose 6.7% in 2022, from $75.21 at the end of 2021 to $80.26. Its highest close was $123.70 on Mar 8, and its lowest $71.02 on Dec 9. The biggest one-day fall was −12.1% on Mar 9 and the biggest rise +8.4% on Mar 17. Adjusted for inflation, it gained 0.2%.

What were the highest and lowest closes of the oil price (WTI) in 2022?

Highest: $123.70 on March 8, 2022. Lowest: $71.02 on December 9, 2022. It closed higher on 135 of 251 trading days.

What happened to the oil price (WTI) on March 8, 2022?

President Biden announces a ban on US imports of Russian oil. The oil price (WTI) rose 3.6% that day, and was −14.6% 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.