Crude oil prices end the year lower than they began the year

Brent crude oil averaged $72 per barrel (b) in 2018, and West Texas Intermediate (WTI) averaged $65/b in 2018. The prices for both crude oils finished the year lower than they began it. Brent and WTI each hit their highest prices during the year on October 3 at $86/b and $76/b, respectively. Prices for each benchmark fell quickly after that, and on December 24, Brent reached an annual low of $50/b and WTI reached an annual low of $43/b. More »