Oil Prices in July 1997: WTI & Brent Daily Prices and Monthly Average
WTI averaged $19.66 per barrel in July 1997, up $0.40 (2.1%) from June 1997. A year earlier, in July 1996, it averaged $21.30, so the price was lower by $1.64 (7.7%) year over year.
Daily spot prices, July 1997
Chart data table (22 rows; WTI on 22, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Jul 31, 1997 | $20.19 | $18.94 |
| Jul 30, 1997 | $20.43 | $19.02 |
| Jul 29, 1997 | $20.08 | $18.74 |
| Jul 28, 1997 | $19.67 | $18.76 |
| Jul 25, 1997 | $19.71 | $18.77 |
| Jul 24, 1997 | $19.71 | $18.66 |
| Jul 23, 1997 | $19.68 | $18.71 |
| Jul 22, 1997 | $19.25 | $18.47 |
| Jul 21, 1997 | $19.25 | $18.23 |
| Jul 18, 1997 | $19.22 | $18.21 |
| Jul 17, 1997 | $19.92 | $18.83 |
| Jul 16, 1997 | $19.57 | $18.27 |
| Jul 15, 1997 | $19.81 | $18.19 |
| Jul 14, 1997 | $18.92 | $17.79 |
| Jul 11, 1997 | $19.39 | $18.00 |
| Jul 10, 1997 | $19.22 | $18.16 |
| Jul 9, 1997 | $19.40 | $18.25 |
| Jul 8, 1997 | $19.67 | — |
| Jul 7, 1997 | $19.53 | $18.28 |
| Jul 3, 1997 | $19.48 | $18.18 |
| Jul 2, 1997 | $20.39 | $18.83 |
| Jul 1, 1997 | $20.11 | — |
Prices dipped to $18.92 on Jul 14, 1997, then climbed to $20.43 on Jul 30, 1997 and ended at $20.19. The largest one-day move was −$0.91 on Jul 3, 1997 (−4.5%).
Brent averaged $18.46, on matched dates $1.18 below WTI on average across 20 dates.
Among the 41 July averages EIA has published, 1997's ranks 8th lowest, tied with 1994. Within 1997 it ranks 3rd lowest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $41.34 and the high of $20.43 equals $42.96.
July 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $19.66 | $18.46 |
| Change vs June 1997 | +$0.40 | +$0.88 |
| Change vs July 1996 | −$1.64 | −$1.11 |
| Highest daily price | $20.43 Jul 30, 1997 | $19.02 Jul 30, 1997 |
| Lowest daily price | $18.92 Jul 14, 1997 | $17.79 Jul 14, 1997 |
| Published daily observations | 22 | 20 |
| Average in October 2026 dollars (CPI-U) | $41.34 | $38.82 |
Monthly averages are EIA's published figures. Real figures use CPI-U for July 1997.
July in other years
| Year | WTI average | vs July 1997 | Real |
|---|---|---|---|
| 2026 | $80.46 | +309.3% | $81.33 |
| 2025 | $68.39 | +247.9% | $71.45 |
| 2024 | $81.80 | +316.1% | $87.77 |
| 2023 | $76.07 | +286.9% | $83.99 |
| 2022 | $101.62 | +416.9% | $115.76 |
| 2021 | $72.49 | +268.7% | $89.62 |
| 2020 | $40.71 | +107.1% | $53.03 |
| 2019 | $57.35 | +191.7% | $75.44 |
| 2018 | $70.98 | +261.0% | $95.06 |
| 2017 | $46.63 | +137.2% | $64.29 |
| 2016 | $44.65 | +127.1% | $62.63 |
| 2015 | $50.90 | +158.9% | $71.98 |
| 2014 | $103.59 | +426.9% | $146.75 |
| 2013 | $104.67 | +432.4% | $151.23 |
| 2012 | $87.90 | +347.1% | $129.49 |
| 2011 | $97.30 | +394.9% | $145.36 |
| 2010 | $76.32 | +288.2% | $118.15 |
| 2009 | $64.15 | +226.3% | $100.54 |
| 2008 | $133.37 | +578.4% | $204.64 |
| 2007 | $74.12 | +277.0% | $120.10 |
| 2006 | $74.41 | +278.5% | $123.41 |
| 2005 | $59.00 | +200.1% | $101.91 |
| 2004 | $40.78 | +107.4% | $72.67 |
| 2003 | $30.76 | +56.5% | $56.45 |
| 2002 | $26.97 | +37.2% | $50.54 |
| 2001 | $26.43 | +34.4% | $50.26 |
| 2000 | $29.70 | +51.1% | $58.01 |
| 1999 | $20.10 | +2.2% | $40.70 |
| 1998 | $14.17 | −27.9% | $29.30 |
| 1997 | $19.66 | — | $41.34 |
| 1996 | $21.30 | +8.3% | $45.79 |
| 1995 | $17.33 | −11.9% | $38.35 |
| 1994 | $19.66 | 0.0% | $44.71 |
| 1993 | $17.89 | −9.0% | $41.81 |
| 1992 | $21.78 | +10.8% | $52.32 |
| 1991 | $21.40 | +8.9% | $53.03 |
| 1990 | $18.45 | −6.2% | $47.75 |
| 1989 | $19.78 | +0.6% | $53.67 |
| 1988 | $15.50 | −21.2% | $44.15 |
| 1987 | $21.34 | +8.5% | $63.29 |
| 1986 | $11.59 | −41.0% | $35.72 |
“—” 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 July 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jul 1, 1997 – Jul 31, 1997 | Jul 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jul 2, 1997 – Jul 31, 1997 | Jul 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)