Silver outshines oil for the 1st time since 1980s
For the first time since the 1980s, silver is now worth more than oil.
As of mid-December 2025, an ounce of silver trades at $63.80—beating WTI crude oil's $57.30 per barrel.
Just a few years ago, oil was nearly five times pricier than silver.
Why does this matter?
Silver's price has soared over 120-150% this year and over 220% since early 2020, hitting record highs while oil prices have dropped sharply.
This flip reflects big shifts in what the world values—think more demand for solar panels, EVs, and tech that uses silver, while oil faces oversupply and weaker demand.
What's behind the switch?
Silver is getting harder to find due to supply shortages and flat mining output, just as industries like clean energy and electronics need more of it.
Oil prices are down because there's too much supply and not enough global demand.
Analysts say silver could keep climbing (possibly hitting $75 soon), but warn things might stay volatile for a while.