Brent Crude Oil Price Chart Last 5 Years
Introduction
Brent Crude Oil is one of the most traded commodities in the world. The price of Brent Crude Oil is an important indicator of the global economy's health. It is essential for investors, traders, and analysts to keep track of the Brent Crude Oil price chart to make informed decisions. In this article, we will discuss the Brent Crude Oil price chart for the last 5 years.
2016
In January 2016, the price of Brent Crude Oil was around $30 per barrel. The prices started to rise in the second quarter of the year due to supply cuts by OPEC and non-OPEC countries. The prices reached a peak of $57 per barrel in December 2016.
2017
In 2017, the prices continued to rise due to the supply cuts and increased demand. The prices reached a peak of $64 per barrel in April 2017. However, the prices started to decline in the second half of the year due to the increase in US shale oil production. The prices ended the year at around $60 per barrel.
2018
In 2018, the prices continued to rise due to the supply cuts and increased demand. The prices reached a peak of $86 per barrel in October 2018. However, the prices started to decline in the fourth quarter of the year due to the increase in US shale oil production and the trade tensions between the US and China. The prices ended the year at around $53 per barrel.
2019
In 2019, the prices started to rise again due to the supply cuts by OPEC and non-OPEC countries. The prices reached a peak of $71 per barrel in April 2019. However, the prices started to decline in the second half of the year due to the increase in US shale oil production and the concerns about the global economy's health. The prices ended the year at around $66 per barrel.
2020
In 2020, the prices started to decline due to the COVID-19 pandemic's impact on the global economy. The prices reached a low of around $19 per barrel in April 2020. However, the prices started to rise again in the second half of the year due to the supply cuts by OPEC and non-OPEC countries and the hopes of a vaccine for COVID-19. The prices ended the year at around $51 per barrel.
Conclusion
The Brent Crude Oil price chart for the last 5 years shows that the prices are highly volatile and depend on various factors such as supply, demand, production, and global economic conditions. It is essential to keep track of the Brent Crude Oil price chart to make informed decisions. Investors, traders, and analysts can use the information to predict future trends and take advantage of opportunities.