Oil Prices in February 1994: WTI & Brent Daily Prices and Monthly Average
WTI averaged $14.78 per barrel in February 1994, down $0.25 (1.7%) from January 1994. The average was 26% below the $20.09 of February 1993.
Daily spot prices, February 1994
Chart data table (20 rows; WTI on 19, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Feb 28, 1994 | $14.50 | $13.59 |
| Feb 25, 1994 | $14.48 | $13.33 |
| Feb 24, 1994 | $14.82 | $13.40 |
| Feb 23, 1994 | $14.18 | $13.20 |
| Feb 22, 1994 | $14.28 | $13.20 |
| Feb 21, 1994 | — | $13.05 |
| Feb 18, 1994 | $14.21 | $13.00 |
| Feb 17, 1994 | $14.26 | $13.28 |
| Feb 16, 1994 | $13.89 | $13.08 |
| Feb 15, 1994 | $14.13 | $13.13 |
| Feb 14, 1994 | $14.15 | $13.40 |
| Feb 11, 1994 | $14.71 | $13.70 |
| Feb 10, 1994 | $14.59 | $13.58 |
| Feb 9, 1994 | $14.64 | $13.53 |
| Feb 8, 1994 | $15.12 | $14.13 |
| Feb 7, 1994 | $15.31 | $14.60 |
| Feb 4, 1994 | $15.63 | $14.93 |
| Feb 3, 1994 | $15.97 | $15.48 |
| Feb 2, 1994 | $16.06 | $15.40 |
| Feb 1, 1994 | $15.91 | $15.03 |
Prices fell over the month, from $15.91 on Feb 1, 1994 to $14.50 on Feb 28, 1994, with declines on 12 of 19 trading days. The largest one-day move was +$0.67 on Feb 1, 1994 (+4.4%).
Brent averaged $13.80, within a dollar of WTI on average across the 19 dates when both were published.
Among the 41 February averages EIA has published, 1994's ranks 2nd lowest. Within 1994 it ranks 2nd lowest of the 12 monthly averages. The high was $16.06 on Feb 2, 1994 and the low $13.89 on Feb 16, 1994. In October 2026 dollars (CPI-U), the average equals $34.00 and the high of $16.06 equals $36.95.
February 1994 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $14.78 | $13.80 |
| Change vs January 1994 | −$0.25 | −$0.49 |
| Change vs February 1993 | −$5.31 | −$4.67 |
| Highest daily price | $16.06 Feb 2, 1994 | $15.48 Feb 3, 1994 |
| Lowest daily price | $13.89 Feb 16, 1994 | $13.00 Feb 18, 1994 |
| Published daily observations | 19 | 20 |
| Average in October 2026 dollars (CPI-U) | $34.00 | $31.75 |
Monthly averages are EIA's published figures. Real figures use CPI-U for February 1994.
February in other years
| Year | WTI average | vs February 1994 | Real |
|---|---|---|---|
| 2026 | $64.51 | +336.5% | $66.63 |
| 2025 | $71.53 | +384.0% | $75.66 |
| 2024 | $77.25 | +422.7% | $84.02 |
| 2023 | $76.83 | +419.8% | $86.20 |
| 2022 | $91.64 | +520.0% | $109.02 |
| 2021 | $59.04 | +299.5% | $75.76 |
| 2020 | $50.54 | +241.9% | $65.94 |
| 2019 | $54.95 | +271.8% | $73.37 |
| 2018 | $62.23 | +321.0% | $84.35 |
| 2017 | $53.47 | +261.8% | $74.08 |
| 2016 | $30.32 | +105.1% | $43.16 |
| 2015 | $50.58 | +242.2% | $72.73 |
| 2014 | $100.82 | +582.1% | $144.93 |
| 2013 | $95.31 | +544.9% | $138.56 |
| 2012 | $102.20 | +591.5% | $151.51 |
| 2011 | $88.58 | +499.3% | $135.09 |
| 2010 | $76.39 | +416.8% | $118.96 |
| 2009 | $39.09 | +164.5% | $62.18 |
| 2008 | $95.39 | +545.4% | $152.08 |
| 2007 | $59.28 | +301.1% | $98.32 |
| 2006 | $61.63 | +317.0% | $104.68 |
| 2005 | $48.15 | +225.8% | $84.73 |
| 2004 | $34.69 | +134.7% | $62.88 |
| 2003 | $35.83 | +142.4% | $66.05 |
| 2002 | $20.72 | +40.2% | $39.33 |
| 2001 | $29.61 | +100.3% | $56.85 |
| 2000 | $29.37 | +98.7% | $58.38 |
| 1999 | $12.01 | −18.7% | $24.64 |
| 1998 | $16.06 | +8.7% | $33.48 |
| 1997 | $22.18 | +50.1% | $46.90 |
| 1996 | $19.09 | +29.2% | $41.60 |
| 1995 | $18.57 | +25.6% | $41.53 |
| 1994 | $14.78 | — | $34.00 |
| 1993 | $20.09 | +35.9% | $47.38 |
| 1992 | $19.01 | +28.6% | $46.29 |
| 1991 | $20.48 | +38.6% | $51.28 |
| 1990 | $22.11 | +49.6% | $58.30 |
| 1989 | $17.94 | +21.4% | $49.79 |
| 1988 | $16.80 | +13.7% | $48.88 |
| 1987 | $17.75 | +20.1% | $53.68 |
| 1986 | $15.46 | +4.6% | $47.74 |
“—” 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 February 1994.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Feb 1, 1994 – Feb 28, 1994 | Feb 28, 1994 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Feb 1, 1994 – Feb 28, 1994 | Feb 28, 1994 |
| 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:1994 daily prices (CSV)