Brent Oil Price in 1988
The brent oil price fell 7.8% in 1988, from $17.60 at the end of 1987 to $16.23. Its highest close was $17.95 on Jan 4, and its lowest $11.20 on Oct 5. The biggest one-day fall was −9.5% on Oct 24 and the biggest rise +13.3% on Nov 25. Adjusted for inflation, it lost 11.7%.
Brent Oil Price, daily closes 1988
Numbers mark the events belowKey Events in 1988
What happened, and how the Brent oil moved — on the day (or the next trading day) and about a month later.
- 1
Wednesday, March 2 From the dataBear market low: $13.80, 34.1% below the peak.
- 2
Friday, July 1 From the dataEnters a bear market: 20% below its peak of $17.45 (April 18, 1988).
- 3
Saturday, August 20Iran-Iraq War ceasefire takes effect. SourceBrent oil: +1.2% next trading day (Aug 22) · −13.5% a month later
- 4
Wednesday, October 5 From the dataBear market low: $11.20, 35.8% below the peak.
- 5
Monday, October 24 From the dataBiggest one-day fall of the year: −9.5%.
- 6
Tuesday, November 8George H. W. Bush is elected US president. SourceBrent oil: −1.2% that day · +12.9% a month later
- 7
Friday, November 25 From the dataBiggest one-day rise of the year: +13.3%.
Biggest days of 1988
| Best days | Worst days | ||
|---|---|---|---|
| Nov 25 | +13.3% | Oct 24 | −9.5% |
| Nov 22 | +10.1% | Jan 8 | −5.7% |
| Oct 10 | +7.5% | Nov 17 | −5.1% |
| Jul 7 | +6.9% | Jan 5 | −4.8% |
| Dec 27 | +5.7% | Oct 18 | −4.8% |
Volatility: 38.1% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | $16.28 | −7.5% |
| Feb | $14.73 | −9.5% |
| Mar | $15.65 | +6.2% |
| Apr | $16.60 | +6.1% |
| May | $16.20 | −2.4% |
| Jun | $14.18 | −12.5% |
| Jul | $15.75 | +11.1% |
| Aug | $14.40 | −8.6% |
| Sep | $11.93 | −17.2% |
| Oct | $12.60 | +5.6% |
| Nov | $14.35 | +13.9% |
| Dec | $16.23 | +13.1% |
Other Markets in 1988
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| Brent Oil Price | −7.8% | $16.23 |
| Dow Jones Industrial Average in 1988 | +11.8% | 2,168.57 |
| S&P 500 in 1988 | +12.4% | 277.72 |
| Nasdaq Composite in 1988 | +15.4% | 381.40 |
| Russell 2000 in 1988 | +22.4% | 147.37 |
| Nikkei 225 in 1988 | +39.9% | 30,159.00 |
| Gold in 1988 | −15.3% | $410.25 |
| Silver in 1988 | −9.7% | $6.05 |
| WTI crude oil in 1988 | +2.3% | $17.12 |
| US 10-year Treasury yield in 1988 | +0.31 pp | 9.14% |
Brent Oil Price in 1988: FAQ
How much did the brent oil price fall in 1988?
The brent oil price fell 7.8% in 1988, from $17.60 at the end of 1987 to $16.23. Its highest close was $17.95 on Jan 4, and its lowest $11.20 on Oct 5. The biggest one-day fall was −9.5% on Oct 24 and the biggest rise +13.3% on Nov 25. Adjusted for inflation, it lost 11.7%.
What were the highest and lowest closes of the brent oil price in 1988?
Highest: $17.95 on January 4, 1988. Lowest: $11.20 on October 5, 1988. It closed higher on 120 of 255 trading days.
What happened to the brent oil price on August 20, 1988?
Iran-Iraq War ceasefire takes effect. The brent oil price rose 1.2% on the next trading day (August 22, 1988), and was −13.5% a month later.
Data: Europe Brent spot price (EIA) from 1987, ICE Brent futures closes after that. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.
Cite this page
For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.
@misc{corgano2026brentoilpricein, author = {{Corgano}}, title = {Brent Oil Price in 1988}, howpublished = {\url{https://goldprice.corgano.com/market-history/oil-brent/1988}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-11-01}}