Brent Oil Price in 1989
The brent oil price rose 29.7% in 1989, from $16.23 at the end of 1988 to $21.05. Its highest close was $22.25 on Apr 20 — a record that stood until January 3, 1990, and its lowest $16.05 on Aug 7. The biggest one-day fall was −6.4% on Jan 23 and the biggest rise +6.4% on Apr 19. Adjusted for inflation, it gained 23.9%.
Brent Oil Price, daily closes 1989
Numbers mark the events belowKey Events in 1989
What happened, and how the Brent oil moved — on the day (or the next trading day) and about a month later.
- 1
Monday, January 16 From the dataBack above its pre-bear-market peak of $17.45 (April 18, 1988).
- 2
Monday, January 23 From the dataBiggest one-day fall of the year: −6.4%.
- 3
Friday, March 24The Exxon Valdez runs aground in Alaska's Prince William Sound, spilling oil. SourceBrent oil: −1.0% next trading day (Mar 28) · +6.1% a month later
- 4
Wednesday, April 19 From the dataBrent oil sets the first of 2 record closing highs this year, at $21.50. Back above its pre-bear-market peak of $20.95 (August 3, 1987). Biggest one-day rise of the year: +6.4%.
- 5
Thursday, April 20 From the dataLast record close of the year: $22.25.
- 6
Monday, May 22 From the dataEnters a bear market: 20% below its peak of $22.25 (April 20, 1989).
- 7
Monday, August 7 From the dataBear market low: $16.05, 27.9% below the peak.
- 8
Thursday, November 9East Germany opens the Berlin Wall. SourceBrent oil: −0.3% that day · +2.3% a month later
Biggest days of 1989
| Best days | Worst days | ||
|---|---|---|---|
| Apr 19 | +6.4% | Jan 23 | −6.4% |
| May 4 | +4.3% | May 17 | −6.2% |
| Jun 23 | +4.2% | May 2 | −5.0% |
| Jan 25 | +3.8% | May 22 | −4.9% |
| Apr 20 | +3.5% | Jun 12 | −4.3% |
Volatility: 26.8% (annualised standard deviation of daily changes).
Month by month
| Month | Close | Change |
|---|---|---|
| Jan | $16.38 | +0.9% |
| Feb | $17.23 | +5.2% |
| Mar | $20.45 | +18.7% |
| Apr | $20.15 | −1.5% |
| May | $18.25 | −9.4% |
| Jun | $18.28 | +0.2% |
| Jul | $16.30 | −10.8% |
| Aug | $17.20 | +5.5% |
| Sep | $18.23 | +6.0% |
| Oct | $18.93 | +3.8% |
| Nov | $18.48 | −2.4% |
| Dec | $21.05 | +13.9% |
Other Markets in 1989
Change over the calendar year.
| Market | Change | Year-end |
|---|---|---|
| Brent Oil Price | +29.7% | $21.05 |
| Dow Jones Industrial Average in 1989 | +27.0% | 2,753.20 |
| S&P 500 in 1989 | +27.3% | 353.40 |
| Nasdaq Composite in 1989 | +19.2% | 454.80 |
| Russell 2000 in 1989 | +14.2% | 168.31 |
| Nikkei 225 in 1989 | +29.0% | 38,916.00 |
| Gold in 1989 | −2.8% | $398.60 |
| Silver in 1989 | −13.8% | $5.22 |
| WTI crude oil in 1989 | +27.6% | $21.84 |
| US 10-year Treasury yield in 1989 | −1.21 pp | 7.93% |
Brent Oil Price in 1989: FAQ
How much did the brent oil price rise in 1989?
The brent oil price rose 29.7% in 1989, from $16.23 at the end of 1988 to $21.05. Its highest close was $22.25 on Apr 20 — a record that stood until January 3, 1990, and its lowest $16.05 on Aug 7. The biggest one-day fall was −6.4% on Jan 23 and the biggest rise +6.4% on Apr 19. Adjusted for inflation, it gained 23.9%.
What were the highest and lowest closes of the brent oil price in 1989?
Highest: $22.25 on April 20, 1989. Lowest: $16.05 on August 7, 1989. It closed higher on 133 of 254 trading days.
What happened to the brent oil price on March 24, 1989?
The Exxon Valdez runs aground in Alaska's Prince William Sound, spilling oil. The brent oil price fell 1.0% on the next trading day (March 28, 1989), and was +6.1% a month later.
Did the brent oil price reach a record high in 1989?
Yes — 2 record closing highs, the last at $22.25 on April 20, 1989.
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 1989}, howpublished = {\url{https://goldprice.corgano.com/market-history/oil-brent/1989}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-31}}