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

> EIA reports Brent averaged $72/bbl and WTI $65/bbl in 2018, with both ending the year lower than they started. Brent hit an annual low of $50 on December 24 and US crude output reached record levels.

- Date: 2019-02-01 · published 2019-02-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/61265-crude-oil-prices-end-the-year-lower-than-they-began-the-year
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The sharp late-2018 sell-off and record US output show a well-supplied market, which keeps energy input costs for feed producers under pressure to stay low.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-07 | [Crude oil prices were generally lower in 2019 than in 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/55330-crude-oil-prices-were-generally-lower-in-2019-than-in-2018-u-s-energy.md) | -8.1% | -21.6% |
| WTI | 2024-02-01 | [EIA expects relatively flat crude oil prices in 2024 and 2025](https://feedsoft.ai/events/32277-eia-expects-relatively-flat-crude-oil-prices-in-2024-and-2025.md) | -2.6% | +3.6% |
| WTI | 2017-08-01 | [Brent and WTI crude oil prices expected to average about $50 per barrel through 2018](https://feedsoft.ai/events/70147-brent-and-wti-crude-oil-prices-expected-to-average-about-50-per-barrel-through.md) | -1.6% | -7.5% |
| WTI | 2019-02-01 | [EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020](https://feedsoft.ai/events/61262-eia-forecasts-world-crude-oil-prices-to-rise-gradually-averaging-65-per-barrel.md) | -2.1% | +6.3% |
| WTI | 2022-06-21 | [US refining capacity falls to lowest mark in 8 years amid record prices: EIA](https://feedsoft.ai/events/41121-us-refining-capacity-falls-to-lowest-mark-in-8-years-amid-record-prices-eia.md) | +1.1% | -3.7% |
| BRENT | 2020-01-07 | [Crude oil prices were generally lower in 2019 than in 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/55330-crude-oil-prices-were-generally-lower-in-2019-than-in-2018-u-s-energy.md) | -7.8% | -22.1% |
| BRENT | 2024-02-01 | [EIA expects relatively flat crude oil prices in 2024 and 2025](https://feedsoft.ai/events/32277-eia-expects-relatively-flat-crude-oil-prices-in-2024-and-2025.md) | -2.6% | +1.9% |
| BRENT | 2017-08-01 | [Brent and WTI crude oil prices expected to average about $50 per barrel through 2018](https://feedsoft.ai/events/70147-brent-and-wti-crude-oil-prices-expected-to-average-about-50-per-barrel-through.md) | -0.8% | -0.8% |

## Sources

- eia.gov: https://www.eia.gov/todayinenergy/detail.php?id=37852

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.