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Oil Prices in 1989: WTI & Brent History and Monthly Averages

WTI average
$19.64
EIA annual average
WTI vs prior year
+23.0%
1988: $15.97
Brent average
$18.23
EIA annual average
Brent vs prior year
+22.3%
1988: $14.91

WTI averaged $19.64 per barrel in 1989, up $3.67 (23.0%) from 1988; that was the highest annual average since EIA's WTI series began in 1986.

Monthly average prices in 1989

Monthly averages and daily ranges, 1989 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$18.02$19.28$16.99$17.17−$0.85$50.14$47.77
February$17.94$18.64$17.11$16.89−$1.05$49.71$46.80
March$19.48$21.03$18.12$18.70−$0.73$53.67$51.52
April$21.07$24.62$19.85$20.32−$0.75$57.67$55.62
May$20.12$21.77$19.41$18.63−$1.47$54.76$50.70
June$20.05$20.88$19.30$17.67−$2.38$54.44$47.98
July$19.78$20.98$17.96$17.62−$2.16$53.57$47.72
August$18.58$19.15$17.91$16.77−$1.81$50.24$45.35
September$19.59$20.15$18.88$17.77−$1.83$52.81$47.90
October$20.10$20.91$19.48$18.91−$1.19$53.92$50.73
November$19.86$20.52$19.33$18.73−$1.13$53.15$50.13
December$21.10$22.20$20.22$19.84−$1.22$56.38$53.01

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

From $16.99 on Jan 4, 1989, WTI climbed to $24.62 by Apr 20, 1989, a 45% gain. The steepest fall within the year ran from $24.62 on Apr 20, 1989 to $17.91 on Aug 1, 1989, a 27% drop. The price finished the year 26% above its first 1989 close of $17.38. The price moved by 5% or more in a single day 7 times.

Brent traded below WTI throughout 1989: its monthly average was lower in every month, and on the 254 matched dates it averaged $1.39 less. Brent averaged $18.23, up $3.32 (22.3%) from 1988.

The monthly average was lowest in February ($17.94) and highest in December ($21.10). In September 2026 dollars (CPI-U), the 1989 average is $53.37, lower than 2025's real average by $15.07 (22.0%). The 1980s as a whole averaged $17.46, so 1989 ran above its decade. Of 40 complete years with an EIA annual average, 1989 ranks 9th lowest.

1989 summary statistics

MeasureWTIBrentBrent − WTI
Average$19.64$18.23−$1.39
Change vs 1988 average+$3.67+$3.32−$0.35
Highest daily price$24.62 Apr 20, 1989$22.25 Apr 20, 1989—
Lowest daily price$16.99 Jan 4, 1989$16.05 Aug 7, 1989—
Highest daily spread——+$0.56 Apr 24, 1989
Lowest daily spread——−$4.07 May 23, 1989
First observation$17.38 Jan 3, 1989$16.40 Jan 3, 1989—
Last observation$21.84 Dec 29, 1989$21.05 Dec 29, 1989—
Published daily observations257254254 matched
Average in September 2026 dollars$53.37$49.54—

Daily spot prices in 1989

Show all 257 dates (Jan 3, 1989 – Dec 29, 1989)
DateWTIBrentBrent − WTI
Jan 3, 1989$17.38$16.40−$0.98
Jan 4, 1989$16.99$16.53−$0.46
Jan 5, 1989$17.45$16.58−$0.87
Jan 6, 1989$17.56$16.85−$0.71
Jan 9, 1989$17.74$17.00−$0.74
Jan 10, 1989$17.80$16.75−$1.05
Jan 11, 1989$18.16$16.90−$1.26
Jan 12, 1989$18.11$16.85−$1.26
Jan 13, 1989$18.49$17.40−$1.09
Jan 16, 1989$18.88$17.50−$1.38
Jan 17, 1989$19.03$17.78−$1.25
Jan 18, 1989$19.20$17.95−$1.25
Jan 19, 1989$19.28$18.10−$1.18
Jan 20, 1989$18.85$18.15−$0.70
Jan 23, 1989$17.66$16.98−$0.68
Jan 24, 1989$17.96$17.05−$0.91
Jan 25, 1989$18.23$17.70−$0.53
Jan 26, 1989$17.68$17.73+$0.05
Jan 27, 1989$17.74$17.18−$0.56
Jan 30, 1989$17.32$16.85−$0.47
Jan 31, 1989$17.00$16.38−$0.62
Feb 1, 1989$17.50$16.40−$1.10
Feb 2, 1989$17.72$16.95−$0.77
Feb 3, 1989$17.51$16.75−$0.76
Feb 6, 1989$17.38$16.50−$0.88
Feb 7, 1989$17.55$16.60−$0.95
Feb 8, 1989$17.49$16.75−$0.74
Feb 9, 1989$17.42$16.58−$0.84
Feb 10, 1989$17.11$16.40−$0.71
Feb 13, 1989$17.61$16.50−$1.11
Feb 14, 1989$17.60$16.83−$0.77
Feb 15, 1989$18.23$16.75−$1.48
Feb 16, 1989$18.35$17.15−$1.20
Feb 17, 1989$18.60$17.15−$1.45
Feb 20, 1989$18.60$17.38−$1.22
Feb 21, 1989$18.64$17.20−$1.44
Feb 22, 1989$18.50$16.95−$1.55
Feb 23, 1989$18.49$17.10−$1.39
Feb 24, 1989$18.06$17.05−$1.01
Feb 27, 1989$18.16$17.55−$0.61
Feb 28, 1989$18.21$17.23−$0.98
Mar 1, 1989$18.30$17.25−$1.05
Mar 2, 1989$18.68$17.45−$1.23
Mar 3, 1989$18.67$17.73−$0.94
Mar 6, 1989$18.73$17.73−$1.00
Mar 7, 1989$18.12$17.55−$0.57
Mar 8, 1989$18.57$17.55−$1.02
Mar 9, 1989$18.53$17.80−$0.73
Mar 10, 1989$18.53$17.63−$0.90
Mar 13, 1989$19.05$18.10−$0.95
Mar 14, 1989$19.47$18.63−$0.84
Mar 15, 1989$19.84$19.08−$0.76
Mar 16, 1989$19.86$18.95−$0.91
Mar 17, 1989$20.34$19.30−$1.04
Mar 20, 1989$19.53$19.18−$0.35
Mar 21, 1989$20.08$19.63−$0.45
Mar 22, 1989$20.21$19.60−$0.61
Mar 23, 1989$20.16$19.93−$0.23
Mar 27, 1989$20.55——
Mar 28, 1989$19.93$19.73−$0.20
Mar 29, 1989$20.20$19.45−$0.75
Mar 30, 1989$21.03$20.00−$1.03
Mar 31, 1989$20.27$20.45+$0.18
Apr 3, 1989$20.03$19.65−$0.38
Apr 4, 1989$20.59$19.90−$0.69
Apr 5, 1989$20.07$19.75−$0.32
Apr 6, 1989$19.85$19.08−$0.77
Apr 7, 1989$20.03$19.40−$0.63
Apr 10, 1989$20.65$19.60−$1.05
Apr 11, 1989$20.56$19.95−$0.61
Apr 12, 1989$20.66$19.85−$0.81
Apr 13, 1989$20.26$19.95−$0.31
Apr 14, 1989$20.68$19.63−$1.05
Apr 17, 1989$21.23$19.88−$1.35
Apr 18, 1989$21.74$20.20−$1.54
Apr 19, 1989$22.66$21.50−$1.16
Apr 20, 1989$24.62$22.25−$2.37
Apr 21, 1989$23.38$21.60−$1.78
Apr 24, 1989$20.64$21.20+$0.56
Apr 25, 1989$21.32$21.15−$0.17
Apr 26, 1989$21.20$21.05−$0.15
Apr 27, 1989$20.83$20.65−$0.18
Apr 28, 1989$20.38$20.15−$0.23
May 1, 1989$20.66——
May 2, 1989$19.73$19.15−$0.58
May 3, 1989$20.13$18.88−$1.25
May 4, 1989$20.57$19.70−$0.87
May 5, 1989$20.08$19.40−$0.68
May 8, 1989$19.41$18.80−$0.61
May 9, 1989$19.54$19.03−$0.51
May 10, 1989$19.56$18.88−$0.68
May 11, 1989$20.13$19.30−$0.83
May 12, 1989$20.12$19.20−$0.92
May 15, 1989$20.53$19.20−$1.33
May 16, 1989$20.58$19.80−$0.78
May 17, 1989$20.15$18.58−$1.57
May 18, 1989$20.25$18.60−$1.65
May 19, 1989$20.58$18.30−$2.28
May 22, 1989$20.92$17.40−$3.52
May 23, 1989$21.77$17.70−$4.07
May 24, 1989$19.68$18.15−$1.53
May 25, 1989$19.46$18.20−$1.26
May 26, 1989$19.55$17.65−$1.90
May 29, 1989$19.55$17.73−$1.82
May 30, 1989$19.96$18.03−$1.93
May 31, 1989$19.93$18.25−$1.68
Jun 1, 1989$19.83$18.08−$1.75
Jun 2, 1989$20.18$18.15−$2.03
Jun 5, 1989$20.50$18.55−$1.95
Jun 6, 1989$20.38$18.50−$1.88
Jun 7, 1989$19.70$18.15−$1.55
Jun 8, 1989$19.94$17.80−$2.14
Jun 9, 1989$19.87$17.95−$1.92
Jun 12, 1989$19.30$17.18−$2.12
Jun 13, 1989$19.50$16.80−$2.70
Jun 14, 1989$20.37$16.90−$3.47
Jun 15, 1989$20.56$16.95−$3.61
Jun 16, 1989$19.98$16.65−$3.33
Jun 19, 1989$20.88$16.85−$4.03
Jun 20, 1989$19.88$16.88−$3.00
Jun 21, 1989$19.74$17.13−$2.61
Jun 22, 1989$19.53$17.30−$2.23
Jun 23, 1989$19.71$18.03−$1.68
Jun 26, 1989$20.28$18.23−$2.05
Jun 27, 1989$20.38$18.20−$2.18
Jun 28, 1989$20.04$18.00−$2.04
Jun 29, 1989$20.27$18.20−$2.07
Jun 30, 1989$20.29$18.28−$2.01
Jul 3, 1989$20.55$18.40−$2.15
Jul 4, 1989$20.29$18.60−$1.69
Jul 5, 1989$20.98$18.75−$2.23
Jul 6, 1989$20.35$18.30−$2.05
Jul 7, 1989$20.78$17.85−$2.93
Jul 10, 1989$20.38$17.83−$2.55
Jul 11, 1989$20.75$17.63−$3.12
Jul 12, 1989$20.20$17.65−$2.55
Jul 13, 1989$20.42$17.60−$2.82
Jul 14, 1989$20.36$17.90−$2.46
Jul 17, 1989$20.49$18.05−$2.44
Jul 18, 1989$20.21$18.05−$2.16
Jul 19, 1989$19.83$17.85−$1.98
Jul 20, 1989$19.92$17.98−$1.94
Jul 21, 1989$19.86$17.83−$2.03
Jul 24, 1989$18.76$17.30−$1.46
Jul 25, 1989$18.52$17.05−$1.47
Jul 26, 1989$18.32$16.50−$1.82
Jul 27, 1989$18.15$16.28−$1.87
Jul 28, 1989$17.96$16.38−$1.58
Jul 31, 1989$18.33$16.30−$2.03
Aug 1, 1989$17.91$16.23−$1.68
Aug 2, 1989$18.28$16.10−$2.18
Aug 3, 1989$18.18$16.40−$1.78
Aug 4, 1989$18.05$16.15−$1.90
Aug 7, 1989$17.91$16.05−$1.86
Aug 8, 1989$18.06$16.28−$1.78
Aug 9, 1989$18.23$16.45−$1.78
Aug 10, 1989$18.58$16.93−$1.65
Aug 11, 1989$18.46$17.00−$1.46
Aug 14, 1989$18.60$16.85−$1.75
Aug 15, 1989$18.78$17.00−$1.78
Aug 16, 1989$18.99$17.00−$1.99
Aug 17, 1989$18.67$16.95−$1.72
Aug 18, 1989$18.82$16.83−$1.99
Aug 21, 1989$19.10$16.90−$2.20
Aug 22, 1989$19.01$17.10−$1.91
Aug 23, 1989$19.15$17.08−$2.07
Aug 24, 1989$19.02$17.05−$1.97
Aug 25, 1989$18.53$16.95−$1.58
Aug 28, 1989$18.69$16.98−$1.71
Aug 29, 1989$18.59$17.10−$1.49
Aug 30, 1989$18.85$17.13−$1.72
Aug 31, 1989$18.83$17.20−$1.63
Sep 1, 1989$18.88$17.33−$1.55
Sep 4, 1989$18.88$17.43−$1.45
Sep 5, 1989$19.08$17.45−$1.63
Sep 6, 1989$19.41$17.80−$1.61
Sep 7, 1989$19.40$17.80−$1.60
Sep 8, 1989$19.77$17.83−$1.94
Sep 11, 1989$19.77$17.98−$1.79
Sep 12, 1989$19.68$17.90−$1.78
Sep 13, 1989$19.87$18.05−$1.82
Sep 14, 1989$19.73$17.90−$1.83
Sep 15, 1989$19.96$17.88−$2.08
Sep 18, 1989$19.87$18.05−$1.82
Sep 19, 1989$19.68$17.90−$1.78
Sep 20, 1989$19.68$17.80−$1.88
Sep 21, 1989$19.69$17.85−$1.84
Sep 22, 1989$19.21$17.53−$1.68
Sep 25, 1989$19.49$17.45−$2.04
Sep 26, 1989$19.62$17.45−$2.17
Sep 27, 1989$19.61$17.55−$2.06
Sep 28, 1989$19.99$17.93−$2.06
Sep 29, 1989$20.15$18.23−$1.92
Oct 2, 1989$19.99$18.58−$1.41
Oct 3, 1989$20.15$18.73−$1.42
Oct 4, 1989$20.17$18.78−$1.39
Oct 5, 1989$19.95$18.43−$1.52
Oct 6, 1989$19.89$18.45−$1.44
Oct 9, 1989$20.04$18.25−$1.79
Oct 10, 1989$20.21$18.55−$1.66
Oct 11, 1989$20.18$18.85−$1.33
Oct 12, 1989$20.49$19.23−$1.26
Oct 13, 1989$20.91$19.60−$1.31
Oct 16, 1989$20.64$19.38−$1.26
Oct 17, 1989$20.68$19.53−$1.15
Oct 18, 1989$20.58$19.43−$1.15
Oct 19, 1989$20.37$19.33−$1.04
Oct 20, 1989$20.04$19.20−$0.84
Oct 23, 1989$19.67$18.88−$0.79
Oct 24, 1989$19.70$18.80−$0.90
Oct 25, 1989$19.60$18.88−$0.72
Oct 26, 1989$19.48$18.48−$1.00
Oct 27, 1989$19.79$18.70−$1.09
Oct 30, 1989$19.74$18.98−$0.76
Oct 31, 1989$19.88$18.93−$0.95
Nov 1, 1989$20.09$19.23−$0.86
Nov 2, 1989$20.01$19.20−$0.81
Nov 3, 1989$20.23$19.00−$1.23
Nov 6, 1989$20.06$18.95−$1.11
Nov 7, 1989$19.97$18.90−$1.07
Nov 8, 1989$19.97$18.90−$1.07
Nov 9, 1989$19.62$18.85−$0.77
Nov 10, 1989$19.84$19.05−$0.79
Nov 13, 1989$19.62$18.85−$0.77
Nov 14, 1989$19.58$18.70−$0.88
Nov 15, 1989$19.69$18.65−$1.04
Nov 16, 1989$19.88$18.65−$1.23
Nov 17, 1989$19.93$18.75−$1.18
Nov 20, 1989$20.13$18.80−$1.33
Nov 21, 1989$20.52$18.68−$1.84
Nov 22, 1989$19.80$18.60−$1.20
Nov 23, 1989$19.80$18.40−$1.40
Nov 24, 1989$19.84$18.48−$1.36
Nov 27, 1989$19.65$18.50−$1.15
Nov 28, 1989$19.33$18.23−$1.10
Nov 29, 1989$19.40$18.15−$1.25
Nov 30, 1989$19.87$18.48−$1.39
Dec 1, 1989$20.26$18.68−$1.58
Dec 4, 1989$20.24$19.28−$0.96
Dec 5, 1989$20.22$19.18−$1.04
Dec 6, 1989$20.46$19.28−$1.18
Dec 7, 1989$20.45$19.33−$1.12
Dec 8, 1989$20.41$19.15−$1.26
Dec 11, 1989$20.69$19.45−$1.24
Dec 12, 1989$20.80$19.53−$1.27
Dec 13, 1989$20.75$19.78−$0.97
Dec 14, 1989$20.67$19.68−$0.99
Dec 15, 1989$21.13$19.68−$1.45
Dec 18, 1989$22.20$19.98−$2.22
Dec 19, 1989$22.17$20.28−$1.89
Dec 20, 1989$21.58$20.23−$1.35
Dec 21, 1989$21.53$20.13−$1.40
Dec 22, 1989$21.31$20.50−$0.81
Dec 26, 1989$21.91——
Dec 27, 1989$21.78$20.90−$0.88
Dec 28, 1989$21.60$20.85−$0.75
Dec 29, 1989$21.84$21.05−$0.79

“—” means EIA published no price for that benchmark on that date.

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 3, 1989 – Dec 29, 1989Dec 29, 1989
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 3, 1989 – Dec 29, 1989Dec 29, 1989
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.

Download:1989 daily prices (CSV)