Monday, May 23, 2016

Year-over-year Change in Oil Prices

by Bill McBride on 5/23/2016 05:03:00 PM

Oil prices are "only" down about 20% year-over-year (YoY), and the YoY decline has been decreasing.

So I thought I'd look at the YoY change in oil prices over the last few decades.

Oil PricesClick on graph for larger image

This graph shows the year-over-year change in WTI based on data from the EIA.

Five times since 1987, oil prices have increased 100% or more YoY.  And several times prices have almost fallen in half YoY.

Oil prices are volatile!  And it seems likely the YoY change will turn positive later this year.