As an energy market analyst with a focus on historical oil pricing, I am well-equipped to provide a detailed response to your query regarding the price of a barrel of oil in 2010. The year 2010 was a period of significant fluctuation in oil prices, influenced by a variety of factors including global economic conditions, geopolitical events, and shifts in demand and supply dynamics.

The oil market in 2010 was characterized by a recovery from the global financial crisis of 2008-2009. As the world economy began to stabilize and grow again, demand for oil increased, leading to a rise in prices. Additionally, there were several geopolitical events that year that had an impact on oil prices, such as conflicts in the Middle East and North Africa, which are key oil-producing regions.

Looking at the annual average domestic crude oil prices, we can see that in 2010, the price was $71.21 per barrel in nominal terms, and when adjusted for inflation to July 2017, it was $79.93 per barrel. It's important to note that these are average prices and the actual price of oil on any given day could have been higher or lower depending on the specific market conditions.

The first half of 2010 saw oil prices rising steadily, with Brent crude, a key benchmark, reaching over $80 per barrel in April. This was driven by a combination of factors including economic recovery, particularly in emerging markets, and concerns over potential supply disruptions due to geopolitical tensions.

However, the second half of the year was marked by increased volatility. Prices peaked in April and then experienced a significant drop in May, partly due to the aftermath of the Deepwater Horizon oil spill in the Gulf of Mexico, which led to a temporary halt in drilling activities and affected market sentiment. The spill highlighted the risks associated with offshore drilling and led to calls for greater regulation and oversight in the industry.

Despite the temporary setback, the demand for oil remained robust, and prices began to recover in the latter part of the year. By the end of 2010, oil prices had stabilized at levels close to where they had started the year, reflecting the ongoing balance between supply and demand in the market.

In conclusion, the price of a barrel of oil in 2010 was influenced by a complex interplay of economic, geopolitical, and market factors. The annual average price provides a snapshot of the year's overall trend, but it's essential to consider the broader context and the fluctuations that occurred throughout the year to fully understand the dynamics of the oil market during that time.

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Oil Prices 1946-PresentAnnual Average Domestic Crude Oil Prices (in $/Barrel) Inflation Adjusted to July 20171946-Present2010$71.21$79.932011$87.04$94.732012$86.46$92.2070 more rowsread more >>