Oil Prices from March to May
Oil prices have risen from $44.76 to $66.31 ($21.55, 48.15%) between March and May.
Weekly Breakdown:
Week | Start Price | End Price | Difference (%) |
May 26th - May 29th | $61.67 | $66.31 | $4.64 (7.52%) |
May 18th - May 22nd | $56.34 | $61.67 | $5.33 (9.46%) |
May 11th - May 15th | $58.63 | $56.34 | $2.29 (3.91%) |
May 4th - May 8th | $53.20 | $58.63 | $5.43 (10.21%) |
April 27th - May 1st | $51.55 | $53.20 | $1.65 (3.20%) |
April 20th - April 24th | $50.33 | $51.55 | $1.22 (2.42%) |
April 13th - April 17th | $52.24 | $50.33 | $1.91 (3.66%) |
April 6th - April 9th | $52.51 | $52.24 | $0.27 (0.51%) |
March 30th - April 3rd | $52.38 | $52.51 | $0.13 (0.25%) |
March 23rd - March 27th: | $51.06 | $52.38 | $1.32 (2.59%) |
March 16th - March 20th | $46.25 | $51.06 | $4.81 (10.40%) |
March 9th - March 13th | $45.52 | $46.25 | $0.73 (1.60%) |
March 2nd-March 6th | $44.76 | $45.52 | $0.76 (1.70%) |
Daily Breakdown:
May 29th (Friday) - Oil rises $1.23 to $66.31: The U.S. dollar weakened against the Euro. U.S. GDP shrank by - 5.7 percent in the first quarter, less than the previous estimate of - 6.1 percent. The Dow rose nearly 100 points.
May 28th (Thursday) - Oil rises $1.63 to $65.08: The EIA reported that U.S. crude inventories declined an unexpected 5.4 million barrels in the week ended May 22nd.
May 27th (Wednesday) - Oil rises $1 to $63.45: Saudi Oil Minister Ali al-Naimi stated that the global economy was capable of managing with oil as high as $75 to $80 a barrel.
May 26th (Tuesday) - Oil rises 78 cents to $62.45: Equities rallied as the US Consumer Confidence Index climbed to 54.9, an 8-month high. The Dow rose 198 points.
May 22nd (Friday) - Oil rises 62 cents to $61.67: The dollar fell to a four-month low against the euro.
May 21st (Thursday) - Oil falls 99 cents to $61.05: All three major U.S. stock indexes fell hard after the Federal Reserve said it expects unemployment to rise to between 9.2% and 9.6% this year. The Dow fell 124 points. In addition, the U.S. dollar strengthened.
May 20th (Wednesday) Oil rises $1.94 to $62.04: U.S. crude inventories fell a more-than-expected 2.1 million barrels in the week ended May 15th.
May 19th (Tuesday) Oil rises 62 cents to $59.65: Oil followed Wall Street higher. Also, U.S. crude inventories are expected to drop in tomorrow's EIA report.
May 18th (Monday) Oil rises $2.69 to $59.03: A pipeline bombing in Nigeria and a U.S. refinery fire renewed supply concerns.
May 15th (Friday) - Oil falls $2.28 to $56.34 a barrel: The IEA announced that global oil demand will fall by 2.56 million bpd to 83.2 million bpd in 2009, the sharpest annual decline since 1981. Also, euro-zone GDP shrank more-than-expected in the first quarter.
May 14th (Thursday) - Oil rises 60 cents to $58.62: The Dow rose 45 points while the dollar weakened.
May 13th (Wednesday) - Oil falls 83 cents to $58.02: An unexpected drop in US retail sales in April overshadowed a 4.7 million barrel decline in U.S. crude inventories. The Dow fell 177 points.
May 12th (Tuesday) - Oil rises 35 cents to $58.85: The dollar index dropped to a four-month low while the Dow rose 50 points.
May 11th (Monday) - Oil falls 13 cents to $58.50: The Dow fell 150 points while the dollar rose.
May 8th (Friday) - Oil rises $1.92 to $58.63: U.S. employers cut fewer-than-expected jobs in April. The Dow rose 164 points.
May 7th (Thursday) - Oil rises 37 cents to $56.71: Initial claims for jobless benefits fell more than expected in the week ended May 2nd.
May 6th (Wednesday) - Oil rises $2.50 to $56.34: The EIA inventory report showed a lower than expected build-up while U.S. stocks advanced.
May 5th (Tuesday) - Oil falls 63 cents to $53.84: Analysts expect tomorrow's EIA report to show a 2.2 million barrel rise in U.S. crude inventories.
May 4th (Monday) - Oil rises $1.27 to $54.47: Reports showed that pending sales of U.S. existing homes and spending on construction projects rose in March. The Dow rose 213 points.
May 1st (Friday) - Oil rises $2.08 to $53.20: US consumer confidence and manufacturing jumped to their highest levels since September 2008.
April 30th (Thursday) - Oil rises 15 cents to $51.12: The Fed stated on Wednesday that the economic outlook has "improved modestly" since last month.
April 29th (Wednesday) - Oil rises $1.05 to $50.97: The Dow rose 167 points and gasoline inventories fell 4.8 million barrels. Crude inventories, though, rose 4.1 million barrels.
April 28th (Tuesday) - Oil falls 22 cents to $49.92: Oil continued to decline on swine-flu fears.
April 27th (Monday) - Oil falls $1.41 to $50.14: Oil fell on fear that the swine-flu outbreak might impact fuel demand.
April 24th (Friday) - Oil rises $1.93 to $51.55: The Dow rose 119 points while the dollar weakened.
April 23rd (Thursday) - Oil rises 77 cents to $49.62: Wall Street gained while the dollar weakened. The Dow rose 70 points.
April 22nd (Wednesday) - Oil rises 30 cents to $48.85: Oil prices followed Wall Street higher despite the EIA reporting a 3.9 million barrel rise in U.S. crude inventories.
April 21st (Tuesday) - Oil rises 63 cents to $46.51: Oil prices followed Wall Street and the euro higher. The Dow rose 128 points. Analysts expect tomorrow's EIA report to show a 2.5 million barrel rise in U.S. crude inventories.
April 20th (Monday) - Oil falls $4.45 to $45.88: The dollar rose to a month-high against the euro while the Dow tumbled ~ 300 points.
April 17th (Friday) - Oil rises 35 cents to $50.33: China's refinery output rose for the first time in five months, a sign that demand in China is possibly recovering.
April 16th (Thursday) - Oil rises 73 cents to $49.98: Oil prices followed Wall Street higher after jobless claims fell more than expected in the week ended April 11th. The Dow rose 96 points.
April 15th (Wednesday) - Oil falls 16 cents to $49.25: Oil prices fell only 16 cents despite U.S. crude inventories rising 5.6 million barrels last week, nearly triple what analysts expected. The highly bearish data was mostly offset by a ~ 100 point rise in the Dow!?
April 14th (Tuesday) - Oil falls 64 cents to $49.41: Retail sales slumped an unexpected 1.1% in March. Analysts expect tomorrow's EIA report to show a 1.9 million barrel rise in U.S. crude inventories in the week ended April 10th.
April 13th (Monday) - Oil falls $2.19 to $50.05: The International Energy Agency lowered its 2009 global oil demand forecast on Friday by 1 million barrels to 83.4 million bpd, the lowest level since 2004.
April 9th (Thursday) - Oil rises $2.86 to $52.24: The Dow rose ~ 250 points after Wells Fargo announced it expects to report a better-than-expected first-quarter profit of $3 billion.
April 8th (Wednesday) - Oil rises 23 cents to $49.38: U.S. crude inventories rose a less-than-expected 1.65 million barrels in the week ended April 3rd.
April 7th (Tuesday) - Oil falls $1.90 to $49.15: Analysts expect tomorrow's EIA report to show a 2 million barrel rise in U.S. crude inventories in the week ended April 3rd. In addition, the Dow fell 180 points while the dollar gained against the euro.
April 6th (Monday) - Oil falls $1.46 to $51.05: The Dow fell 40 points while the U.S. dollar strengthened.
April 3rd (Friday) - Oil falls 13 cents to $52.51: U.S. unemployment in March was in-line with expectations despite rising to a 26-year high of 8.5%.
April 2nd (Thursday) - Oil rises $4.25 to $52.64: World markets shot up after the G20 agreed on a $1.1 trillion dollar stimulus. The euro also gained against the U.S. dollar after the European Central Bank decided on a smaller than expected rate cut.
April 1st (Wednesday) - Oil falls $1.27 to $48.39: Oil prices fell despite the Dow rising 2% after the EIA reported that U.S. crude inventories rose a larger-than-expected 2.8 million barrels last week.
March 31st (Tuesday) - Oil rises $1.25 to $49.66: With the help of a weaker dollar, oil prices followed U.S. and European stocks higher. Analysts expect tomorrow's EIA report to show a 2.5 million barrel rise in U.S. crude inventories in the week ended March 27th.
March 30th (Monday) - Oil falls $3.97 to $48.41: Oil prices followed U.S. stocks lower after Obama gave GM and Chrysler an ultimatum: restructure or face bankruptcy. The Dow fell 251 points. In addition, the U.S. dollar rose against the euro.
March 27th (Friday) - Oil falls $1.96 to $52.38: The U.S. dollar posted its largest one-day gain in more than two months against the euro. The Dow falls 146 points.
March 26th (Thursday) - Oil rises $1.57 to $54.34: The U.S. Commerce Department downwardly-revised GDP for the last quarter of 2008 to -6.3%, less than the -6.6% analysts expected. The Dow rises 172 points.
March 25th (Wednesday) - Oil falls $1.21 to $52.77: The EIA reported that U.S. crude inventories shot up 3.3 million barrels last week, much more than the 1.3 million barrels analysts expected. This brings the total count to 356.6 million barrels, the highest since July 1993! The impact of this rise was partially offset by: U.S. gasoline inventories falling 1.1 million barrels, new home sales rising in February, and a weaker dollar due to Geithner’s remarks.
March 24th (Tuesday) - Oil rises 18 cents to $53.98: Oil rebounded in anticipation of tomorrow's EIA report after being down for most of the day due to a stronger dollar. Analysts expect gasoline stockpiles to drop 500,000 barrels and crude-oil stockpiles to rise 1.3 million barrels in the week ended March 20th.
March 23rd (Monday) - Oil rises $1.73 to $53.80 a barrel: The Dow surged 500 points after the U.S. Treasury unveiled its detailed plan to buy up toxic assets. Also, the National Association of Realtors reported that existing home sales went up an unexpected 5.1% in February as prices plunged.
March 20th (Friday) - Oil falls 55 cents to $51.06: The U.S. Dollar Index rebounded after 8 consecutive days in the red. The Dow fell 124 points.
March 19th (Thursday) - Oil rises $3.47 to $51.61: The dollar fell against major currencies after the Federal Reserve announced its plan to inject around one trillion dollars in the economy.
March 18th (Wednesday) - Oil falls $1.02 to $48.14: The EIA reported that gasoline inventories rose by 3.2 million barrels. Analysts expected a drop of 2.1 million barrels.
March 17th (Tuesday) - Oil rises $1.81 to $49.16: Government data showed that the number of housing starts surprisingly jumped by 22 percent in February, the largest percentage rise since January 1990.
March 16th (Monday) - Oil rises $1.10 to $47.35: In an interview with "60 Minutes", Ben Bernanke said that "we'll see the recession coming to an end probably this year." This optimism overshadowed OPEC's decision to keep output unchanged.
March 13th (Friday) - Oil falls 78 cents to $46.25: An OPEC report released today showed world oil demand contracting faster than expected.
March 12th (Thursday) - Oil rises $4.70 to $47.03: Oil rose on better than expected U.S. retail sales data and in anticipation of OPEC's meeting this Sunday. The Dow rose 238 points.
March 11th (Wednesday) - Oil falls $3.38 to $42.33: U.S. crude inventories surprisingly increased 700,000 barrels in the week ended March 6th. Analysts had expected a drop of 1 million barrels.
March 10th (Tuesday) - Oil falls $1.36 to $45.71: The U.S. Energy Department cut its world oil demand forecast for 2009.
March 9th (Monday) - Oil rises $1.55 to $47.07: Oil hit a two-month high on speculation that OPEC will cut more production when it meets this Sunday.
March 6th (Friday) - Oil rises $1.91 to $45.52: The dollar fell against the euro today, making oil more attractive to foreign investors, as the U.S. unemployment rate jumped to its highest level in 26 years.
March 5th (Thursday) - Oil falls $1.77 to $43.61: Oil prices followed the U.S. stock market lower as the Dow ended at a new 12-year low. Support also came after China announced it would not add to its $586 billion stimulus package.
March 4th (Wednesday) - Oil rises $3.73 to $45.38: The EIA reported a 700,000 barrel drop in U.S. crude inventories in the week ended Feb. 27th. Analysts had expected crude stocks to rise 2.2 million barrels. Additional support came from speculation that China will soon announce a hefty stimulus package. The Dow rose ~150 points.
March 3rd (Tuesday) - Oil rises $1.50 to $41.65: Oil prices rose despite more gloomy U.S. economic data after an oil pipeline operated by Royal Dutch Shell in Nigeria exploded. Analysts expect tomorrow's EIA report to show a 2.2 million barrels rise in crude inventories and a 600,000 barrel drop in gasoline inventories.
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