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Oil Price (WTI) in 2024

The oil price (WTI) rose 0.1% in 2024, from $71.65 at the end of 2023 to $71.72. Its highest close was $86.91 on Apr 5, and its lowest $65.75 on Sep 10. The biggest one-day fall was −6.1% on Oct 28 and the biggest rise +5.1% on Oct 3. Adjusted for inflation, it lost 2.7%.

Change in 2024
+0.1%
$71.65 → $71.72
High
$86.91
Apr 5
Low
$65.75
Sep 10
After inflation
−2.7%
US CPI
Up days
125 of 252
longest run 7 up, 5 down
Below record
-50.6%
at the end of 2024

Oil Price (WTI), daily closes 2024

Numbers mark the events below
$68$76$85JanFebMarAprMayJunJulAugSepOctNovDec1Sep 4: Enters a bear market: 20% below its peak of $86.91 (April 5, 2024).2Sep 10: Bear market low: $65.75, 24.3% below the peak.3Oct 3: Biggest one-day rise of the year: +5.1%.4Oct 28: Biggest one-day fall of the year: −6.1%.5Nov 5: Donald Trump wins the US presidential election.

Key Events in 2024

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

  1. 1
    Wednesday, September 4 From the data
    Enters a bear market: 20% below its peak of $86.91 (April 5, 2024).
  2. 2
    Tuesday, September 10 From the data
    Bear market low: $65.75, 24.3% below the peak.
  3. 3
    Thursday, October 3 From the data
    Biggest one-day rise of the year: +5.1%.
  4. 4
    Monday, October 28 From the data
    Biggest one-day fall of the year: −6.1%.
  5. 5
    Tuesday, November 5
    Donald Trump wins the US presidential election. Source
    WTI oil: +0.7% that day · −4.1% a month later

Biggest days of 2024

Best daysWorst days
Oct 3+5.1%Oct 28−6.1%
Jul 31+4.3%Oct 8−4.6%
Aug 12+4.2%Oct 15−4.4%
Oct 7+3.7%Sep 3−4.4%
Oct 10+3.6%Sep 10−4.3%

Volatility: 28.8% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan$75.85+5.9%$78.01$70.38
Feb$78.26+3.2%$79.19$72.28
Mar$83.17+6.3%$83.47$77.56
Apr$81.93−1.5%$86.91$81.93
May$76.99−6.0%$80.06$76.87
Jun$81.54+5.9%$82.17$73.25
Jul$77.91−4.5%$83.88$74.73
Aug$73.55−5.6%$80.06$71.93
Sep$68.17−7.3%$71.95$65.75
Oct$69.26+1.6%$77.14$67.21
Nov$68.00−1.8%$72.36$67.02
Dec$71.72+5.5%$71.72$67.20

Other Markets in 2024

Change over the calendar year.

MarketChangeYear-end
Oil Price (WTI)+0.1%$71.72
Dow Jones Industrial Average in 2024+12.9%42,544.22
S&P 500 in 2024+23.3%5,881.63
Nasdaq Composite in 2024+28.6%19,310.79
Russell 2000 in 2024+10.0%2,230.16
Nikkei 225 in 2024+19.2%39,894.54
Gold in 2024+27.5%$2,641.00
Silver in 2024+21.3%$28.94
Brent crude oil in 2024−3.1%$74.64
US 10-year Treasury yield in 2024+0.71 pp4.57%
2020202120222023202420252026

Oil Price (WTI) in 2024: FAQ

How much did the oil price (WTI) rise in 2024?

The oil price (WTI) rose 0.1% in 2024, from $71.65 at the end of 2023 to $71.72. Its highest close was $86.91 on Apr 5, and its lowest $65.75 on Sep 10. The biggest one-day fall was −6.1% on Oct 28 and the biggest rise +5.1% on Oct 3. Adjusted for inflation, it lost 2.7%.

What were the highest and lowest closes of the oil price (WTI) in 2024?

Highest: $86.91 on April 5, 2024. Lowest: $65.75 on September 10, 2024. It closed higher on 125 of 252 trading days.

What happened to the oil price (WTI) on November 5, 2024?

Donald Trump wins the US presidential election. The oil price (WTI) rose 0.7% that day, and was −4.1% 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.