Crude Prices Historical Data (1987 – 2020)
Source: Crude Oil Price Data
Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia.
US oil prices crashed as much as 34% to a four-year low of $27.34 a barrel as traders brace for Saudi Arabia to flood the market with crude in a bid to recapture market share.
Crude was recently trading down 27% to $30.04 a barrel. Brent crude, the global benchmark, plunged 26% to $33.49 a barrel. Both oil contracts are on track for their worst day since 1991, according to Refinitiv.
The shock to oil also rattled stock markets, which were already in a panic because of the novel coronavirus outbreak. Market in Asia plunged during Monday trading hours, while US futures recorded massive declines.
The turmoil comes after the implosion of an alliance between OPEC and Russia, which had been restraining oil supply since the start of 2017 in an attempt to support prices.
Here is the Excel Data and Chart: crude oil prices since 1987