Oil Prices in December 1997: WTI & Brent Daily Prices and Monthly Average
At $18.33 per barrel, December 1997's WTI average was the lowest monthly average in nominal terms since November 1995, down $1.86 (9.2%) from November 1997. The average was 27% below the $25.23 of December 1996.
Daily spot prices, December 1997
Chart data table (22 rows; WTI on 22, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Dec 31, 1997 | $17.65 | $15.86 |
| Dec 30, 1997 | $17.60 | $16.01 |
| Dec 29, 1997 | $17.64 | $16.35 |
| Dec 26, 1997 | $18.19 | — |
| Dec 24, 1997 | $18.36 | $17.04 |
| Dec 23, 1997 | $18.39 | $17.09 |
| Dec 22, 1997 | $18.29 | $17.04 |
| Dec 19, 1997 | $18.46 | $17.20 |
| Dec 18, 1997 | $18.51 | $17.34 |
| Dec 17, 1997 | $18.22 | $16.98 |
| Dec 16, 1997 | $18.19 | $16.80 |
| Dec 15, 1997 | $18.18 | $16.89 |
| Dec 12, 1997 | $18.21 | $17.12 |
| Dec 11, 1997 | $18.18 | $16.98 |
| Dec 10, 1997 | $18.15 | $17.08 |
| Dec 9, 1997 | $18.79 | $17.57 |
| Dec 8, 1997 | $18.86 | $17.87 |
| Dec 5, 1997 | $18.72 | $17.91 |
| Dec 4, 1997 | $18.49 | $17.70 |
| Dec 3, 1997 | $18.81 | $17.94 |
| Dec 2, 1997 | $18.67 | $18.04 |
| Dec 1, 1997 | $18.76 | $18.01 |
Prices fell over the month, from $18.76 on Dec 1, 1997 to $17.65 on Dec 31, 1997.
Brent averaged $17.18, on matched dates $1.16 below WTI on average across 21 dates.
Among the 40 December averages EIA has published, 1997's ranks 7th lowest. Within 1997 it ranks the lowest of the 12 monthly averages. The high was $18.86 on Dec 8, 1997 and the low $17.60 on Dec 30, 1997. In October 2026 dollars (CPI-U), the average equals $38.35 and the high of $18.86 equals $39.46.
December 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $18.33 | $17.18 |
| Change vs November 1997 | −$1.86 | −$1.99 |
| Change vs December 1996 | −$6.90 | −$6.60 |
| Highest daily price | $18.86 Dec 8, 1997 | $18.04 Dec 2, 1997 |
| Lowest daily price | $17.60 Dec 30, 1997 | $15.86 Dec 31, 1997 |
| Published daily observations | 22 | 21 |
| Average in October 2026 dollars (CPI-U) | $38.35 | $35.95 |
Monthly averages are EIA's published figures. Real figures use CPI-U for December 1997.
December in other years
| Year | WTI average | vs December 1997 | Real |
|---|---|---|---|
| 2025 | $57.97 | +216.3% | $60.38 |
| 2024 | $70.12 | +282.5% | $74.99 |
| 2023 | $71.90 | +292.3% | $79.11 |
| 2022 | $76.44 | +317.0% | $86.93 |
| 2021 | $71.71 | +291.2% | $86.81 |
| 2020 | $47.02 | +156.5% | $60.93 |
| 2019 | $59.88 | +226.7% | $78.65 |
| 2018 | $49.52 | +170.2% | $66.53 |
| 2017 | $57.88 | +215.8% | $79.24 |
| 2016 | $51.97 | +183.5% | $72.65 |
| 2015 | $37.19 | +102.9% | $53.07 |
| 2014 | $59.29 | +223.5% | $85.22 |
| 2013 | $97.63 | +432.6% | $141.39 |
| 2012 | $87.86 | +379.3% | $129.15 |
| 2011 | $98.56 | +437.7% | $147.40 |
| 2010 | $89.15 | +386.4% | $137.28 |
| 2009 | $74.47 | +306.3% | $116.39 |
| 2008 | $41.12 | +124.3% | $66.02 |
| 2007 | $91.69 | +400.2% | $147.34 |
| 2006 | $61.96 | +238.0% | $103.63 |
| 2005 | $59.41 | +224.1% | $101.89 |
| 2004 | $43.15 | +135.4% | $76.53 |
| 2003 | $32.13 | +75.3% | $58.84 |
| 2002 | $29.46 | +60.7% | $54.96 |
| 2001 | $19.39 | +5.8% | $37.04 |
| 2000 | $28.44 | +55.2% | $55.17 |
| 1999 | $26.10 | +42.4% | $52.34 |
| 1998 | $11.35 | −38.1% | $23.37 |
| 1997 | $18.33 | — | $38.35 |
| 1996 | $25.23 | +37.6% | $53.69 |
| 1995 | $19.03 | +3.8% | $41.84 |
| 1994 | $17.16 | −6.4% | $38.69 |
| 1993 | $14.52 | −20.8% | $33.61 |
| 1992 | $19.41 | +5.9% | $46.17 |
| 1991 | $19.50 | +6.4% | $47.73 |
| 1990 | $27.28 | +48.8% | $68.81 |
| 1989 | $21.10 | +15.1% | $56.47 |
| 1988 | $16.38 | −10.6% | $45.88 |
| 1987 | $17.28 | −5.7% | $50.54 |
| 1986 | $16.11 | −12.1% | $49.21 |
“—” 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 December 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Dec 1, 1997 – Dec 31, 1997 | Dec 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Dec 1, 1997 – Dec 31, 1997 | Dec 31, 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)