Do You Know How Much Crude Oil Has Dropped From Its All Time High In History?
The 2008 Global Financial Crisis was the worst of them all. Prices fell from $138 to $36, losing nearly 74% of their value in just 6 months.
The 2008 Global Financial Crisis was the worst of them all. Prices fell from $138 to $36, losing nearly 74% of their value in just 6 months.
The COVID-19 pandemic caused the quickest fall ever, with prices dropping from $68 to $15, nearly 78% down, in just 3 months. The 2014 oil glut, when the world had too much oil, saw prices slowly slide from $111 to $35 over nearly 19 months, the longest stretch on record.
Wars and political tensions also pushed prices up and then brought them back down quickly. The Gulf War, Iraq War, Arab Spring, and Russia–Ukraine War all caused sharp rises followed by falls within 2 to 7 months.
*Today, tensions between the US, Israel, and Iran have pushed prices back up to $107, and the world is watching to see what happens next. But this phase too shall pass.*
Source: EIA Brent Crude Monthly Prices | Prakala Wealth Private Limited
