Oil Prices in October 1994: WTI & Brent Daily Prices and Monthly Average
WTI averaged $17.72 per barrel in October 1994, up $0.27 (1.5%) from September 1994. It was within 3% of its level a year earlier ($18.15 in October 1993).
Daily spot prices, October 1994
Chart data table (21 rows; WTI on 21, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Oct 31, 1994 | $18.16 | $17.18 |
| Oct 28, 1994 | $18.25 | $17.18 |
| Oct 27, 1994 | $18.17 | $17.08 |
| Oct 26, 1994 | $18.01 | $16.88 |
| Oct 25, 1994 | $17.71 | $16.48 |
| Oct 24, 1994 | $17.50 | $16.48 |
| Oct 21, 1994 | $17.31 | $16.35 |
| Oct 20, 1994 | $17.57 | $16.53 |
| Oct 19, 1994 | $17.43 | $16.28 |
| Oct 18, 1994 | $17.34 | $16.13 |
| Oct 17, 1994 | $17.11 | $15.75 |
| Oct 14, 1994 | $16.98 | $15.58 |
| Oct 13, 1994 | $17.03 | $15.63 |
| Oct 12, 1994 | $17.13 | $16.08 |
| Oct 11, 1994 | $17.74 | $16.38 |
| Oct 10, 1994 | $17.95 | $16.70 |
| Oct 7, 1994 | $18.27 | $16.93 |
| Oct 6, 1994 | $18.24 | $16.63 |
| Oct 5, 1994 | $18.01 | $16.50 |
| Oct 4, 1994 | $17.97 | $16.70 |
| Oct 3, 1994 | $18.16 | $16.85 |
Prices peaked at $18.27 on Oct 7, 1994, then fell to $16.98 on Oct 14, 1994 and ended at $18.16.
Brent averaged $16.49, on matched dates $1.23 below WTI on average across 21 dates.
Among the 41 October averages EIA has published, 1994's ranks 5th lowest. Within 1994 it ranks 6th highest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $40.00 and the high of $18.27 equals $41.25.
October 1994 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $17.72 | $16.49 |
| Change vs September 1994 | +$0.27 | +$0.59 |
| Change vs October 1993 | −$0.43 | −$0.12 |
| Highest daily price | $18.27 Oct 7, 1994 | $17.18 Oct 28, 1994 |
| Lowest daily price | $16.98 Oct 14, 1994 | $15.58 Oct 14, 1994 |
| Published daily observations | 21 | 21 |
| Average in October 2026 dollars (CPI-U) | $40.00 | $37.23 |
Monthly averages are EIA's published figures. Real figures use CPI-U for October 1994.
October in other years
| Year | WTI average | vs October 1994 | Real |
|---|---|---|---|
| 2026 | $102.07 | +476.0% | $102.07 |
| 2025 | $60.89 | +243.6% | — |
| 2024 | $71.99 | +306.3% | $76.97 |
| 2023 | $85.64 | +383.3% | $93.95 |
| 2022 | $87.55 | +394.1% | $99.15 |
| 2021 | $81.48 | +359.8% | $99.43 |
| 2020 | $39.40 | +122.3% | $51.07 |
| 2019 | $53.96 | +204.5% | $70.77 |
| 2018 | $70.75 | +299.3% | $94.43 |
| 2017 | $51.58 | +191.1% | $70.58 |
| 2016 | $49.78 | +180.9% | $69.50 |
| 2015 | $46.22 | +160.8% | $65.59 |
| 2014 | $84.40 | +376.3% | $119.97 |
| 2013 | $100.54 | +467.4% | $145.30 |
| 2012 | $89.49 | +405.0% | $130.57 |
| 2011 | $86.32 | +387.1% | $128.67 |
| 2010 | $81.89 | +362.1% | $126.37 |
| 2009 | $75.72 | +327.3% | $118.22 |
| 2008 | $76.61 | +332.3% | $119.39 |
| 2007 | $85.80 | +384.2% | $138.60 |
| 2006 | $58.89 | +232.3% | $98.49 |
| 2005 | $62.26 | +251.4% | $105.49 |
| 2004 | $53.28 | +200.7% | $94.20 |
| 2003 | $30.34 | +71.2% | $55.35 |
| 2002 | $28.84 | +62.8% | $53.69 |
| 2001 | $22.17 | +25.1% | $42.11 |
| 2000 | $33.11 | +86.9% | $64.22 |
| 1999 | $22.69 | +28.0% | $45.53 |
| 1998 | $14.46 | −18.4% | $29.76 |
| 1997 | $21.33 | +20.4% | $44.55 |
| 1996 | $24.88 | +40.4% | $53.05 |
| 1995 | $17.43 | −1.6% | $38.27 |
| 1994 | $17.72 | — | $40.00 |
| 1993 | $18.15 | +2.4% | $42.04 |
| 1992 | $21.69 | +22.4% | $51.63 |
| 1991 | $23.23 | +31.1% | $57.06 |
| 1990 | $36.04 | +103.4% | $91.12 |
| 1989 | $20.10 | +13.4% | $54.01 |
| 1988 | $13.77 | −22.3% | $38.66 |
| 1987 | $19.86 | +12.1% | $58.14 |
| 1986 | $14.90 | −15.9% | $45.59 |
“—” 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 October 1994.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Oct 3, 1994 – Oct 31, 1994 | Oct 31, 1994 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Oct 3, 1994 – Oct 31, 1994 | Oct 31, 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)