Brent Crude Oil Price History

Brent crude oil has experienced significant price volatility throughout its history. From trading below $20 per barrel in the early 2000s, it surged to a record high near $147 in July 2008 before crashing during the financial crisis. The 2010s saw prices fluctuate between $30 and $115, driven by OPEC decisions and the US shale revolution.

In April 2020, oil prices briefly turned negative for WTI futures due to the COVID-19 pandemic demand collapse and storage capacity limits. Brent crude fell to around $19 per barrel. Recovery was swift, with prices climbing back above $80 by late 2021 as demand rebounded and supply remained constrained.

Historical price analysis helps investors and analysts identify support and resistance levels, seasonal patterns, and long-term trends. The chart above shows recent closing prices for Brent crude oil futures.