Oil Prices in 1997: WTI & Brent History and Monthly Averages
WTI average
$20.61
EIA annual average
WTI vs prior year
−6.8%
1996: $22.12
Brent average
$19.11
EIA annual average
Brent vs prior year
−7.4%
1996: $20.64
WTI averaged $20.61 per barrel in 1997, down $1.51 (6.8%) from 1996; that was the lowest annual average since 1995.
Monthly average prices in 1997
| Month | WTI avg | WTI high | WTI low | Brent avg | Brent − WTI (matched dates) | WTI (September 2026 $) | Brent (September 2026 $) |
|---|---|---|---|---|---|---|---|
| January | $25.13 | $26.55 | $23.85 | $23.54 | −$1.60 | $53.22 | $49.85 |
| February | $22.18 | $24.20 | $20.30 | $20.85 | −$1.30 | $46.83 | $44.02 |
| March | $20.97 | $22.00 | $20.15 | $19.13 | −$1.78 | $44.16 | $40.29 |
| April | $19.70 | $20.40 | $19.15 | $17.56 | −$2.14 | $41.43 | $36.93 |
| May | $20.82 | $22.10 | $19.60 | $19.02 | −$1.80 | $43.82 | $40.03 |
| June | $19.26 | $21.15 | $18.60 | $17.58 | −$1.68 | $40.48 | $36.95 |
| July | $19.66 | $20.43 | $18.92 | $18.46 | −$1.18 | $41.27 | $38.75 |
| August | $19.95 | $20.81 | $19.29 | $18.60 | −$1.37 | $41.80 | $38.97 |
| September | $19.80 | $21.29 | $19.30 | $18.46 | −$1.34 | $41.39 | $38.59 |
| October | $21.33 | $22.86 | $20.40 | $19.87 | −$1.46 | $44.47 | $41.43 |
| November | $20.19 | $21.01 | $19.13 | $19.17 | −$0.96 | $42.12 | $39.99 |
| December | $18.33 | $18.86 | $17.60 | $17.18 | −$1.16 | $38.29 | $35.89 |
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.
The steepest fall within the year ran from $26.55 on Jan 8, 1997 to $17.60 on Dec 30, 1997, a 34% drop. It was below $20 on 113 days. From $18.60 on Jun 20, 1997, WTI climbed to $22.86 by Oct 3, 1997, a 23% gain. The price finished the year 31% below its first 1997 close of $25.55.
Brent traded below WTI throughout 1997: its monthly average was lower in every month, and on the 244 matched dates it averaged $1.49 less. Brent averaged $19.11, down $1.53 (7.4%) from 1996.
Monthly averages peaked early, at $25.13 in January, and bottomed at $18.33 in December. In September 2026 dollars (CPI-U), the 1997 average is $43.27, lower than 2025's real average by $25.17 (36.8%). The 1990s as a whole averaged $19.70, so 1997 ran above its decade. Of 40 complete years with an EIA annual average, 1997 ranks 11th lowest.
1997 summary statistics
| Measure | WTI | Brent | Brent − WTI |
|---|---|---|---|
| Average | $20.61 | $19.11 | −$1.49 |
| Change vs 1996 average | −$1.51 | −$1.53 | −$0.02 |
| Highest daily price | $26.55 Jan 8, 1997 | $24.83 Jan 9, 1997 | — |
| Lowest daily price | $17.60 Dec 30, 1997 | $15.86 Dec 31, 1997 | — |
| Highest daily spread | — | — | −$0.21 Nov 25, 1997 |
| Lowest daily spread | — | — | −$2.64 Jan 15, 1997 |
| First observation | $25.55 Jan 2, 1997 | $24.45 Jan 2, 1997 | — |
| Last observation | $17.65 Dec 31, 1997 | $15.86 Dec 31, 1997 | — |
| Published daily observations | 252 | 248 | 244 matched |
| Average in September 2026 dollars | $43.27 | $40.12 | — |
Daily spot prices in 1997
Show all 256 dates (Jan 2, 1997 – Dec 31, 1997)
| Date | WTI | Brent | Brent − WTI |
|---|---|---|---|
| Jan 2, 1997 | $25.55 | $24.45 | −$1.10 |
| Jan 3, 1997 | $25.55 | $24.19 | −$1.36 |
| Jan 6, 1997 | $26.25 | $24.76 | −$1.49 |
| Jan 7, 1997 | $26.25 | $24.76 | −$1.49 |
| Jan 8, 1997 | $26.55 | $24.78 | −$1.77 |
| Jan 9, 1997 | $26.30 | $24.83 | −$1.47 |
| Jan 10, 1997 | $26.15 | $24.22 | −$1.93 |
| Jan 13, 1997 | $25.20 | $23.41 | −$1.79 |
| Jan 14, 1997 | $25.10 | — | — |
| Jan 15, 1997 | $25.95 | $23.31 | −$2.64 |
| Jan 16, 1997 | $25.45 | $23.31 | −$2.14 |
| Jan 17, 1997 | $25.40 | $22.87 | −$2.53 |
| Jan 20, 1997 | $25.10 | $22.86 | −$2.24 |
| Jan 21, 1997 | $24.80 | $22.98 | −$1.82 |
| Jan 22, 1997 | $24.40 | $22.93 | −$1.47 |
| Jan 23, 1997 | $23.85 | $22.93 | −$0.92 |
| Jan 24, 1997 | $23.85 | $22.80 | −$1.05 |
| Jan 27, 1997 | $23.85 | $22.56 | −$1.29 |
| Jan 28, 1997 | $23.90 | $22.62 | −$1.28 |
| Jan 29, 1997 | $24.50 | $23.01 | −$1.49 |
| Jan 30, 1997 | $24.80 | $23.43 | −$1.37 |
| Jan 31, 1997 | $24.15 | $23.28 | −$0.87 |
| Feb 3, 1997 | $24.20 | $22.91 | −$1.29 |
| Feb 4, 1997 | $24.00 | $22.65 | −$1.35 |
| Feb 5, 1997 | $23.90 | $22.69 | −$1.21 |
| Feb 6, 1997 | $23.05 | $21.86 | −$1.19 |
| Feb 7, 1997 | $22.30 | — | — |
| Feb 10, 1997 | $22.45 | $20.73 | −$1.72 |
| Feb 11, 1997 | $22.35 | $21.25 | −$1.10 |
| Feb 12, 1997 | $21.75 | $21.15 | −$0.60 |
| Feb 13, 1997 | $22.10 | $20.47 | −$1.63 |
| Feb 14, 1997 | $22.40 | $20.56 | −$1.84 |
| Feb 17, 1997 | — | $20.48 | — |
| Feb 18, 1997 | $22.50 | $20.56 | −$1.94 |
| Feb 19, 1997 | $22.65 | $20.98 | −$1.67 |
| Feb 20, 1997 | $21.95 | $20.57 | −$1.38 |
| Feb 21, 1997 | $21.60 | $20.13 | −$1.47 |
| Feb 24, 1997 | $21.00 | $19.87 | −$1.13 |
| Feb 25, 1997 | $20.95 | $20.08 | −$0.87 |
| Feb 26, 1997 | $21.10 | $19.82 | −$1.28 |
| Feb 27, 1997 | $20.80 | $19.96 | −$0.84 |
| Feb 28, 1997 | $20.30 | $19.44 | −$0.86 |
| Mar 3, 1997 | $20.25 | $19.10 | −$1.15 |
| Mar 4, 1997 | $20.75 | $19.40 | −$1.35 |
| Mar 5, 1997 | $20.50 | $19.38 | −$1.12 |
| Mar 6, 1997 | $21.00 | $19.55 | −$1.45 |
| Mar 7, 1997 | $21.35 | — | — |
| Mar 10, 1997 | $20.50 | $19.21 | −$1.29 |
| Mar 11, 1997 | $20.15 | $18.57 | −$1.58 |
| Mar 12, 1997 | $20.60 | $18.98 | −$1.62 |
| Mar 13, 1997 | $20.65 | $19.30 | −$1.35 |
| Mar 14, 1997 | $21.30 | $19.44 | −$1.86 |
| Mar 17, 1997 | $20.90 | $18.98 | −$1.92 |
| Mar 18, 1997 | $22.00 | $19.54 | −$2.46 |
| Mar 19, 1997 | $22.00 | $20.00 | −$2.00 |
| Mar 20, 1997 | $22.00 | $19.62 | −$2.38 |
| Mar 21, 1997 | $21.70 | $19.39 | −$2.31 |
| Mar 24, 1997 | $21.00 | $18.93 | −$2.07 |
| Mar 25, 1997 | $20.95 | $18.77 | −$2.18 |
| Mar 26, 1997 | $20.65 | $18.91 | −$1.74 |
| Mar 27, 1997 | $20.70 | $18.53 | −$2.17 |
| Mar 28, 1997 | — | $18.53 | — |
| Mar 31, 1997 | $20.35 | $18.53 | −$1.82 |
| Apr 1, 1997 | $20.30 | $18.15 | −$2.15 |
| Apr 2, 1997 | $19.55 | $17.97 | −$1.58 |
| Apr 3, 1997 | $19.45 | $17.28 | −$2.17 |
| Apr 4, 1997 | $19.15 | $17.25 | −$1.90 |
| Apr 7, 1997 | $19.25 | $16.92 | −$2.33 |
| Apr 8, 1997 | $19.35 | $16.98 | −$2.37 |
| Apr 9, 1997 | $19.25 | $17.02 | −$2.23 |
| Apr 10, 1997 | $19.55 | $17.25 | −$2.30 |
| Apr 11, 1997 | $19.50 | $17.54 | −$1.96 |
| Apr 14, 1997 | $19.90 | $17.61 | −$2.29 |
| Apr 15, 1997 | $19.60 | $17.53 | −$2.07 |
| Apr 16, 1997 | $19.35 | $17.24 | −$2.11 |
| Apr 17, 1997 | $19.50 | $17.00 | −$2.50 |
| Apr 18, 1997 | $19.90 | $17.26 | −$2.64 |
| Apr 21, 1997 | $20.35 | $17.74 | −$2.61 |
| Apr 22, 1997 | $19.60 | $17.72 | −$1.88 |
| Apr 23, 1997 | $19.65 | $17.46 | −$2.19 |
| Apr 24, 1997 | $19.85 | $17.80 | −$2.05 |
| Apr 25, 1997 | $19.80 | $18.07 | −$1.73 |
| Apr 28, 1997 | $19.85 | $17.92 | −$1.93 |
| Apr 29, 1997 | $20.40 | $18.27 | −$2.13 |
| Apr 30, 1997 | $20.20 | $18.25 | −$1.95 |
| May 1, 1997 | $19.90 | $18.24 | −$1.66 |
| May 2, 1997 | $19.60 | $17.70 | −$1.90 |
| May 5, 1997 | $19.60 | $17.72 | −$1.88 |
| May 6, 1997 | $19.70 | $17.82 | −$1.88 |
| May 7, 1997 | $19.60 | $17.84 | −$1.76 |
| May 8, 1997 | $20.35 | $18.32 | −$2.03 |
| May 9, 1997 | $20.45 | $18.62 | −$1.83 |
| May 12, 1997 | $21.40 | $19.42 | −$1.98 |
| May 13, 1997 | $21.10 | $19.40 | −$1.70 |
| May 14, 1997 | $21.35 | $19.10 | −$2.25 |
| May 15, 1997 | $21.30 | $19.40 | −$1.90 |
| May 16, 1997 | $22.10 | $19.77 | −$2.33 |
| May 19, 1997 | $21.50 | $19.92 | −$1.58 |
| May 20, 1997 | $21.20 | $19.75 | −$1.45 |
| May 21, 1997 | $21.60 | $19.70 | −$1.90 |
| May 22, 1997 | $21.60 | $20.03 | −$1.57 |
| May 23, 1997 | $21.25 | $20.15 | −$1.10 |
| May 27, 1997 | $20.75 | $19.33 | −$1.42 |
| May 28, 1997 | $20.70 | $18.88 | −$1.82 |
| May 29, 1997 | $21.15 | $19.38 | −$1.77 |
| May 30, 1997 | $21.00 | $18.99 | −$2.01 |
| Jun 2, 1997 | $21.15 | $19.17 | −$1.98 |
| Jun 3, 1997 | $20.35 | $18.59 | −$1.76 |
| Jun 4, 1997 | $20.30 | $18.36 | −$1.94 |
| Jun 5, 1997 | $19.80 | $17.96 | −$1.84 |
| Jun 6, 1997 | $19.00 | $17.43 | −$1.57 |
| Jun 9, 1997 | $18.85 | $17.08 | −$1.77 |
| Jun 10, 1997 | $18.85 | $17.01 | −$1.84 |
| Jun 11, 1997 | $18.75 | $16.69 | −$2.06 |
| Jun 12, 1997 | $19.00 | $16.79 | −$2.21 |
| Jun 13, 1997 | $18.95 | $16.83 | −$2.12 |
| Jun 16, 1997 | $19.10 | $17.15 | −$1.95 |
| Jun 17, 1997 | $19.30 | $17.55 | −$1.75 |
| Jun 18, 1997 | $18.90 | $17.22 | −$1.68 |
| Jun 19, 1997 | $18.75 | $17.34 | −$1.41 |
| Jun 20, 1997 | $18.60 | $17.09 | −$1.51 |
| Jun 23, 1997 | $18.90 | $17.80 | −$1.10 |
| Jun 24, 1997 | $18.71 | $17.65 | −$1.06 |
| Jun 25, 1997 | $19.12 | $17.65 | −$1.47 |
| Jun 26, 1997 | $18.84 | $17.60 | −$1.24 |
| Jun 27, 1997 | $19.42 | $18.00 | −$1.42 |
| Jun 30, 1997 | $19.82 | $18.22 | −$1.60 |
| Jul 1, 1997 | $20.11 | — | — |
| Jul 2, 1997 | $20.39 | $18.83 | −$1.56 |
| Jul 3, 1997 | $19.48 | $18.18 | −$1.30 |
| Jul 7, 1997 | $19.53 | $18.28 | −$1.25 |
| Jul 8, 1997 | $19.67 | — | — |
| Jul 9, 1997 | $19.40 | $18.25 | −$1.15 |
| Jul 10, 1997 | $19.22 | $18.16 | −$1.06 |
| Jul 11, 1997 | $19.39 | $18.00 | −$1.39 |
| Jul 14, 1997 | $18.92 | $17.79 | −$1.13 |
| Jul 15, 1997 | $19.81 | $18.19 | −$1.62 |
| Jul 16, 1997 | $19.57 | $18.27 | −$1.30 |
| Jul 17, 1997 | $19.92 | $18.83 | −$1.09 |
| Jul 18, 1997 | $19.22 | $18.21 | −$1.01 |
| Jul 21, 1997 | $19.25 | $18.23 | −$1.02 |
| Jul 22, 1997 | $19.25 | $18.47 | −$0.78 |
| Jul 23, 1997 | $19.68 | $18.71 | −$0.97 |
| Jul 24, 1997 | $19.71 | $18.66 | −$1.05 |
| Jul 25, 1997 | $19.71 | $18.77 | −$0.94 |
| Jul 28, 1997 | $19.67 | $18.76 | −$0.91 |
| Jul 29, 1997 | $20.08 | $18.74 | −$1.34 |
| Jul 30, 1997 | $20.43 | $19.02 | −$1.41 |
| Jul 31, 1997 | $20.19 | $18.94 | −$1.25 |
| Aug 1, 1997 | $20.27 | $19.33 | −$0.94 |
| Aug 4, 1997 | $20.81 | $19.64 | −$1.17 |
| Aug 5, 1997 | $20.79 | $19.51 | −$1.28 |
| Aug 6, 1997 | $20.46 | $19.21 | −$1.25 |
| Aug 7, 1997 | $20.09 | $18.94 | −$1.15 |
| Aug 8, 1997 | $19.58 | $18.56 | −$1.02 |
| Aug 11, 1997 | $19.73 | $18.21 | −$1.52 |
| Aug 12, 1997 | $19.91 | $18.56 | −$1.35 |
| Aug 13, 1997 | $20.19 | $18.63 | −$1.56 |
| Aug 14, 1997 | $20.02 | $19.00 | −$1.02 |
| Aug 15, 1997 | $20.08 | $18.77 | −$1.31 |
| Aug 18, 1997 | $19.94 | $18.41 | −$1.53 |
| Aug 19, 1997 | $20.04 | $18.88 | −$1.16 |
| Aug 20, 1997 | $20.07 | $18.83 | −$1.24 |
| Aug 21, 1997 | $19.83 | $18.26 | −$1.57 |
| Aug 22, 1997 | $19.70 | — | — |
| Aug 25, 1997 | $19.29 | $17.87 | −$1.42 |
| Aug 26, 1997 | $19.31 | $17.58 | −$1.73 |
| Aug 27, 1997 | $19.65 | $17.83 | −$1.82 |
| Aug 28, 1997 | $19.59 | $17.91 | −$1.68 |
| Aug 29, 1997 | $19.66 | $17.98 | −$1.68 |
| Sep 2, 1997 | $19.73 | $18.22 | −$1.51 |
| Sep 3, 1997 | $19.65 | $18.12 | −$1.53 |
| Sep 4, 1997 | $19.46 | $17.92 | −$1.54 |
| Sep 5, 1997 | $19.61 | $18.15 | −$1.46 |
| Sep 8, 1997 | $19.43 | $18.03 | −$1.40 |
| Sep 9, 1997 | $19.50 | $18.18 | −$1.32 |
| Sep 10, 1997 | $19.50 | $18.08 | −$1.42 |
| Sep 11, 1997 | $19.41 | $18.21 | −$1.20 |
| Sep 12, 1997 | $19.37 | $18.06 | −$1.31 |
| Sep 15, 1997 | $19.30 | $18.05 | −$1.25 |
| Sep 16, 1997 | $19.67 | $18.40 | −$1.27 |
| Sep 17, 1997 | $19.44 | $18.21 | −$1.23 |
| Sep 18, 1997 | $19.41 | $18.14 | −$1.27 |
| Sep 19, 1997 | $19.37 | $18.32 | −$1.05 |
| Sep 22, 1997 | $19.61 | $18.65 | −$0.96 |
| Sep 23, 1997 | $19.71 | $18.57 | −$1.14 |
| Sep 24, 1997 | $20.03 | $18.52 | −$1.51 |
| Sep 25, 1997 | $20.38 | $19.05 | −$1.33 |
| Sep 26, 1997 | $20.87 | $19.36 | −$1.51 |
| Sep 29, 1997 | $21.29 | $19.48 | −$1.81 |
| Sep 30, 1997 | $21.13 | $19.96 | −$1.17 |
| Oct 1, 1997 | $21.02 | $19.87 | −$1.15 |
| Oct 2, 1997 | $21.82 | $20.08 | −$1.74 |
| Oct 3, 1997 | $22.86 | $21.29 | −$1.57 |
| Oct 6, 1997 | $21.97 | $20.94 | −$1.03 |
| Oct 7, 1997 | $21.88 | $20.71 | −$1.17 |
| Oct 8, 1997 | $22.19 | $20.79 | −$1.40 |
| Oct 9, 1997 | $22.01 | $20.60 | −$1.41 |
| Oct 10, 1997 | $22.01 | $20.73 | −$1.28 |
| Oct 13, 1997 | $21.34 | $20.08 | −$1.26 |
| Oct 14, 1997 | $20.75 | $19.40 | −$1.35 |
| Oct 15, 1997 | $20.65 | $19.27 | −$1.38 |
| Oct 16, 1997 | $20.98 | $19.56 | −$1.42 |
| Oct 17, 1997 | $21.41 | $19.43 | −$1.98 |
| Oct 20, 1997 | $20.69 | $19.29 | −$1.40 |
| Oct 21, 1997 | $20.68 | $19.30 | −$1.38 |
| Oct 22, 1997 | $21.44 | $19.86 | −$1.58 |
| Oct 23, 1997 | $21.18 | $19.89 | −$1.29 |
| Oct 24, 1997 | $20.99 | $19.45 | −$1.54 |
| Oct 27, 1997 | $21.03 | $19.63 | −$1.40 |
| Oct 28, 1997 | $20.40 | $18.86 | −$1.54 |
| Oct 29, 1997 | $20.82 | $19.00 | −$1.82 |
| Oct 30, 1997 | $21.26 | $19.45 | −$1.81 |
| Oct 31, 1997 | $21.10 | $19.42 | −$1.68 |
| Nov 3, 1997 | $20.91 | $19.48 | −$1.43 |
| Nov 4, 1997 | $20.64 | $19.10 | −$1.54 |
| Nov 5, 1997 | $20.44 | $18.93 | −$1.51 |
| Nov 6, 1997 | $20.46 | $18.97 | −$1.49 |
| Nov 7, 1997 | $20.80 | $19.24 | −$1.56 |
| Nov 10, 1997 | $20.46 | $19.14 | −$1.32 |
| Nov 11, 1997 | $20.54 | — | — |
| Nov 12, 1997 | $20.53 | $19.26 | −$1.27 |
| Nov 13, 1997 | $20.76 | $19.71 | −$1.05 |
| Nov 14, 1997 | $21.01 | $20.24 | −$0.77 |
| Nov 17, 1997 | $20.29 | $19.54 | −$0.75 |
| Nov 18, 1997 | $20.01 | $19.39 | −$0.62 |
| Nov 19, 1997 | $19.82 | $19.41 | −$0.41 |
| Nov 20, 1997 | $19.17 | $18.82 | −$0.35 |
| Nov 21, 1997 | $19.76 | $18.83 | −$0.93 |
| Nov 24, 1997 | $19.41 | $19.01 | −$0.40 |
| Nov 25, 1997 | $19.35 | $19.14 | −$0.21 |
| Nov 26, 1997 | $19.13 | $18.50 | −$0.63 |
| Nov 27, 1997 | — | $18.64 | — |
| Nov 28, 1997 | — | $18.96 | — |
| Dec 1, 1997 | $18.76 | $18.01 | −$0.75 |
| Dec 2, 1997 | $18.67 | $18.04 | −$0.63 |
| Dec 3, 1997 | $18.81 | $17.94 | −$0.87 |
| Dec 4, 1997 | $18.49 | $17.70 | −$0.79 |
| Dec 5, 1997 | $18.72 | $17.91 | −$0.81 |
| Dec 8, 1997 | $18.86 | $17.87 | −$0.99 |
| Dec 9, 1997 | $18.79 | $17.57 | −$1.22 |
| Dec 10, 1997 | $18.15 | $17.08 | −$1.07 |
| Dec 11, 1997 | $18.18 | $16.98 | −$1.20 |
| Dec 12, 1997 | $18.21 | $17.12 | −$1.09 |
| Dec 15, 1997 | $18.18 | $16.89 | −$1.29 |
| Dec 16, 1997 | $18.19 | $16.80 | −$1.39 |
| Dec 17, 1997 | $18.22 | $16.98 | −$1.24 |
| Dec 18, 1997 | $18.51 | $17.34 | −$1.17 |
| Dec 19, 1997 | $18.46 | $17.20 | −$1.26 |
| Dec 22, 1997 | $18.29 | $17.04 | −$1.25 |
| Dec 23, 1997 | $18.39 | $17.09 | −$1.30 |
| Dec 24, 1997 | $18.36 | $17.04 | −$1.32 |
| Dec 26, 1997 | $18.19 | — | — |
| Dec 29, 1997 | $17.64 | $16.35 | −$1.29 |
| Dec 30, 1997 | $17.60 | $16.01 | −$1.59 |
| Dec 31, 1997 | $17.65 | $15.86 | −$1.79 |
“—” means EIA published no price for that benchmark on that date.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB | $/bbl | Jan 2, 1997 – Dec 31, 1997 | Dec 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB | $/bbl | Jan 2, 1997 – Dec 31, 1997 | Dec 31, 1997 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly and annual average | September 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:1997 daily prices (CSV)