Lowest price of oil in history
US crude oil dropped as much as 0.5% to $55.72 per barrel while Brent crude fell nearly 0.3% to $61.07 per barrel, around 06:30 AM NY time. Historically, Crude oil reached an all time high of 147.27 in July of 2008 and a record low of 9.75 in April of 1986. Current and historical prices, chart and data for the NYMEX WTI Crude Oil Futures #1 (CL1) contract. Contracts use the following methodology to allow long term price comparisons: Front Month, Calendar-Weighted Adjusted Prices, Roll on First of Month, Continuous Contract History. In January 1999 the price of a barrel of oil reached a low point of $16 when Iraq increased its oil production at the time of the Asian Financial Crisis when demand for oil fell. Prices then increased rapidly, reaching $35 in September 2000, and after a temporary fall reached $40-50