During President Donald Trump's tenure from January 2017 to January 2021, crude oil prices experienced notable fluctuations. In January 2017, the price of West Texas Intermediate (WTI) crude oil was approximately $52 per barrel. Prices remained relatively stable through 2017 and 2018, generally ranging between $50 and $70 per barrel. In late 2018, prices briefly spiked to around $75 per barrel before declining.
In 2019, prices fluctuated between $50 and $65 per barrel. The most significant change occurred in 2020 due to the COVID-19 pandemic, which led to a sharp decrease in demand. In April 2020, WTI crude oil prices briefly turned negative for the first time in history, reaching -$37.63 per barrel, as storage capacity concerns and plummeting demand heavily impacted the market. By the end of 2020, prices had recovered to approximately $48 per barrel.
For a detailed visual representation of these price movements, you can refer to the interactive chart provided by MacroTrends, which illustrates daily closing prices of WTI crude oil over the past decade.
MacroTrends
Additionally, the U.S. Energy Information Administration (EIA) offers historical data on WTI spot prices, which can be accessed here:
EIA
These resources provide comprehensive insights into oil price trends during President Trump's time in office. |
