Oil Prices in August 1997: WTI & Brent Daily Prices and Monthly Average
WTI averaged $19.95 per barrel in August 1997, little changed from July 1997 ($19.66). A year earlier, in August 1996, it averaged $21.90, so the price was lower by $1.95 (8.9%) year over year.
Daily spot prices, August 1997
Chart data table (21 rows; WTI on 21, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Aug 29, 1997 | $19.66 | $17.98 |
| Aug 28, 1997 | $19.59 | $17.91 |
| Aug 27, 1997 | $19.65 | $17.83 |
| Aug 26, 1997 | $19.31 | $17.58 |
| Aug 25, 1997 | $19.29 | $17.87 |
| Aug 22, 1997 | $19.70 | — |
| Aug 21, 1997 | $19.83 | $18.26 |
| Aug 20, 1997 | $20.07 | $18.83 |
| Aug 19, 1997 | $20.04 | $18.88 |
| Aug 18, 1997 | $19.94 | $18.41 |
| Aug 15, 1997 | $20.08 | $18.77 |
| Aug 14, 1997 | $20.02 | $19.00 |
| Aug 13, 1997 | $20.19 | $18.63 |
| Aug 12, 1997 | $19.91 | $18.56 |
| Aug 11, 1997 | $19.73 | $18.21 |
| Aug 8, 1997 | $19.58 | $18.56 |
| Aug 7, 1997 | $20.09 | $18.94 |
| Aug 6, 1997 | $20.46 | $19.21 |
| Aug 5, 1997 | $20.79 | $19.51 |
| Aug 4, 1997 | $20.81 | $19.64 |
| Aug 1, 1997 | $20.27 | $19.33 |
Prices peaked at $20.81 on Aug 4, 1997, then fell to $19.29 on Aug 25, 1997 and ended at $19.66.
Brent averaged $18.60, on matched dates $1.37 below WTI on average across 20 dates.
Among the 41 August averages EIA has published, 1997's ranks 8th lowest. Within 1997 it ranks 6th lowest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $41.87 and the high of $20.81 equals $43.68.
August 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $19.95 | $18.60 |
| Change vs July 1997 | +$0.29 | +$0.14 |
| Change vs August 1996 | −$1.95 | −$1.91 |
| Highest daily price | $20.81 Aug 4, 1997 | $19.64 Aug 4, 1997 |
| Lowest daily price | $19.29 Aug 25, 1997 | $17.58 Aug 26, 1997 |
| Published daily observations | 21 | 20 |
| Average in October 2026 dollars (CPI-U) | $41.87 | $39.04 |
Monthly averages are EIA's published figures. Real figures use CPI-U for August 1997.
August in other years
| Year | WTI average | vs August 1997 | Real |
|---|---|---|---|
| 2026 | $83.90 | +320.6% | $84.53 |
| 2025 | $64.86 | +225.1% | $67.57 |
| 2024 | $76.68 | +284.4% | $82.21 |
| 2023 | $81.39 | +308.0% | $89.47 |
| 2022 | $93.67 | +369.5% | $106.74 |
| 2021 | $67.70 | +239.3% | $83.52 |
| 2020 | $42.34 | +112.2% | $54.98 |
| 2019 | $54.81 | +174.7% | $72.10 |
| 2018 | $68.06 | +241.2% | $91.10 |
| 2017 | $48.04 | +140.8% | $66.04 |
| 2016 | $44.72 | +124.2% | $62.67 |
| 2015 | $42.87 | +114.9% | $60.71 |
| 2014 | $96.54 | +383.9% | $136.99 |
| 2013 | $106.57 | +434.2% | $153.79 |
| 2012 | $94.13 | +371.8% | $137.90 |
| 2011 | $86.33 | +332.7% | $128.62 |
| 2010 | $76.60 | +284.0% | $118.42 |
| 2009 | $71.05 | +256.1% | $111.10 |
| 2008 | $116.67 | +484.8% | $179.73 |
| 2007 | $72.36 | +262.7% | $117.46 |
| 2006 | $73.04 | +266.1% | $120.90 |
| 2005 | $64.99 | +225.8% | $111.68 |
| 2004 | $44.90 | +125.1% | $79.97 |
| 2003 | $31.57 | +58.2% | $57.72 |
| 2002 | $28.39 | +42.3% | $53.03 |
| 2001 | $27.37 | +37.2% | $52.04 |
| 2000 | $31.26 | +56.7% | $61.06 |
| 1999 | $21.28 | +6.7% | $42.98 |
| 1998 | $13.47 | −32.5% | $27.82 |
| 1997 | $19.95 | — | $41.87 |
| 1996 | $21.90 | +9.8% | $46.99 |
| 1995 | $18.02 | −9.7% | $39.78 |
| 1994 | $18.38 | −7.9% | $41.63 |
| 1993 | $18.01 | −9.7% | $41.98 |
| 1992 | $21.34 | +7.0% | $51.12 |
| 1991 | $21.69 | +8.7% | $53.59 |
| 1990 | $27.31 | +36.9% | $70.04 |
| 1989 | $18.58 | −6.9% | $50.33 |
| 1988 | $15.52 | −22.2% | $44.02 |
| 1987 | $20.31 | +1.8% | $59.92 |
| 1986 | $15.10 | −24.3% | $46.46 |
“—” 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 August 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Aug 1, 1997 – Aug 29, 1997 | Aug 29, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Aug 1, 1997 – Aug 29, 1997 | Aug 29, 1997 |
| 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:1997 daily prices (CSV)