Oil Prices in July 1989: WTI & Brent Daily Prices and Monthly Average
WTI averaged $19.78 per barrel in July 1989, little changed from June 1989 ($20.05). The average was 28% above the $15.50 of July 1988.
Daily spot prices, July 1989
Chart data table (21 rows; WTI on 21, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Jul 31, 1989 | $18.33 | $16.30 |
| Jul 28, 1989 | $17.96 | $16.38 |
| Jul 27, 1989 | $18.15 | $16.28 |
| Jul 26, 1989 | $18.32 | $16.50 |
| Jul 25, 1989 | $18.52 | $17.05 |
| Jul 24, 1989 | $18.76 | $17.30 |
| Jul 21, 1989 | $19.86 | $17.83 |
| Jul 20, 1989 | $19.92 | $17.98 |
| Jul 19, 1989 | $19.83 | $17.85 |
| Jul 18, 1989 | $20.21 | $18.05 |
| Jul 17, 1989 | $20.49 | $18.05 |
| Jul 14, 1989 | $20.36 | $17.90 |
| Jul 13, 1989 | $20.42 | $17.60 |
| Jul 12, 1989 | $20.20 | $17.65 |
| Jul 11, 1989 | $20.75 | $17.63 |
| Jul 10, 1989 | $20.38 | $17.83 |
| Jul 7, 1989 | $20.78 | $17.85 |
| Jul 6, 1989 | $20.35 | $18.30 |
| Jul 5, 1989 | $20.98 | $18.75 |
| Jul 4, 1989 | $20.29 | $18.60 |
| Jul 3, 1989 | $20.55 | $18.40 |
Prices fell over the month, from $20.55 on Jul 3, 1989 to $18.33 on Jul 31, 1989, with declines on 13 of 21 trading days. The largest one-day move was −$1.10 on Jul 24, 1989 (−5.5%).
Brent averaged $17.62, on matched dates $2.16 below WTI on average across 21 dates.
Among the 41 July averages EIA has published, 1989's ranks 9th lowest. Within 1989 it ranks 6th lowest of the 12 monthly averages. The high was $20.98 on Jul 5, 1989 and the low $17.96 on Jul 28, 1989. WTI moved 5% or more from the previous published price on 1 day. In October 2026 dollars (CPI-U), the average equals $53.67 and the high of $20.98 equals $56.92.
July 1989 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $19.78 | $17.62 |
| Change vs June 1989 | −$0.27 | −$0.05 |
| Change vs July 1988 | +$4.28 | +$2.71 |
| Highest daily price | $20.98 Jul 5, 1989 | $18.75 Jul 5, 1989 |
| Lowest daily price | $17.96 Jul 28, 1989 | $16.28 Jul 27, 1989 |
| Published daily observations | 21 | 21 |
| Average in October 2026 dollars (CPI-U) | $53.67 | $47.81 |
Monthly averages are EIA's published figures. Real figures use CPI-U for July 1989.
July in other years
| Year | WTI average | vs July 1989 | Real |
|---|---|---|---|
| 2026 | $80.46 | +306.8% | $81.33 |
| 2025 | $68.39 | +245.8% | $71.45 |
| 2024 | $81.80 | +313.5% | $87.77 |
| 2023 | $76.07 | +284.6% | $83.99 |
| 2022 | $101.62 | +413.8% | $115.76 |
| 2021 | $72.49 | +266.5% | $89.62 |
| 2020 | $40.71 | +105.8% | $53.03 |
| 2019 | $57.35 | +189.9% | $75.44 |
| 2018 | $70.98 | +258.8% | $95.06 |
| 2017 | $46.63 | +135.7% | $64.29 |
| 2016 | $44.65 | +125.7% | $62.63 |
| 2015 | $50.90 | +157.3% | $71.98 |
| 2014 | $103.59 | +423.7% | $146.75 |
| 2013 | $104.67 | +429.2% | $151.23 |
| 2012 | $87.90 | +344.4% | $129.49 |
| 2011 | $97.30 | +391.9% | $145.36 |
| 2010 | $76.32 | +285.8% | $118.15 |
| 2009 | $64.15 | +224.3% | $100.54 |
| 2008 | $133.37 | +574.3% | $204.64 |
| 2007 | $74.12 | +274.7% | $120.10 |
| 2006 | $74.41 | +276.2% | $123.41 |
| 2005 | $59.00 | +198.3% | $101.91 |
| 2004 | $40.78 | +106.2% | $72.67 |
| 2003 | $30.76 | +55.5% | $56.45 |
| 2002 | $26.97 | +36.3% | $50.54 |
| 2001 | $26.43 | +33.6% | $50.26 |
| 2000 | $29.70 | +50.2% | $58.01 |
| 1999 | $20.10 | +1.6% | $40.70 |
| 1998 | $14.17 | −28.4% | $29.30 |
| 1997 | $19.66 | −0.6% | $41.34 |
| 1996 | $21.30 | +7.7% | $45.79 |
| 1995 | $17.33 | −12.4% | $38.35 |
| 1994 | $19.66 | −0.6% | $44.71 |
| 1993 | $17.89 | −9.6% | $41.81 |
| 1992 | $21.78 | +10.1% | $52.32 |
| 1991 | $21.40 | +8.2% | $53.03 |
| 1990 | $18.45 | −6.7% | $47.75 |
| 1989 | $19.78 | — | $53.67 |
| 1988 | $15.50 | −21.6% | $44.15 |
| 1987 | $21.34 | +7.9% | $63.29 |
| 1986 | $11.59 | −41.4% | $35.72 |
“—” in the real column means BLS has published no CPI-U for that month. The comparison column shows how far that year's average was from July 1989.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jul 3, 1989 – Jul 31, 1989 | Jul 31, 1989 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jul 3, 1989 – Jul 31, 1989 | Jul 31, 1989 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | October 2026 |
Last updated: Nov 10, 2026, 7:01 PM CST. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:1989 daily prices (CSV)