Oil Prices in March 1997: WTI & Brent Daily Prices and Monthly Average
WTI averaged $20.97 per barrel in March 1997, down $1.21 (5.5%) from February 1997. It was within 3% of its level a year earlier ($21.33 in March 1996).
Daily spot prices, March 1997
Chart data table (21 rows; WTI on 20, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 1997 | $20.35 | $18.53 |
| Mar 28, 1997 | — | $18.53 |
| Mar 27, 1997 | $20.70 | $18.53 |
| Mar 26, 1997 | $20.65 | $18.91 |
| Mar 25, 1997 | $20.95 | $18.77 |
| Mar 24, 1997 | $21.00 | $18.93 |
| Mar 21, 1997 | $21.70 | $19.39 |
| Mar 20, 1997 | $22.00 | $19.62 |
| Mar 19, 1997 | $22.00 | $20.00 |
| Mar 18, 1997 | $22.00 | $19.54 |
| Mar 17, 1997 | $20.90 | $18.98 |
| Mar 14, 1997 | $21.30 | $19.44 |
| Mar 13, 1997 | $20.65 | $19.30 |
| Mar 12, 1997 | $20.60 | $18.98 |
| Mar 11, 1997 | $20.15 | $18.57 |
| Mar 10, 1997 | $20.50 | $19.21 |
| Mar 7, 1997 | $21.35 | — |
| Mar 6, 1997 | $21.00 | $19.55 |
| Mar 5, 1997 | $20.50 | $19.38 |
| Mar 4, 1997 | $20.75 | $19.40 |
| Mar 3, 1997 | $20.25 | $19.10 |
Prices dipped to $20.15 on Mar 11, 1997, then climbed to $22.00 on Mar 18, 1997 and ended at $20.35. The largest one-day move was +$1.10 on Mar 18, 1997 (+5.3%).
Brent averaged $19.13, on matched dates $1.78 below WTI on average across 19 dates.
Among the 41 March averages EIA has published, 1997's ranks 13th lowest. Within 1997 it ranks 4th highest of the 12 monthly averages. WTI moved 5% or more from the previous published price on 1 day. In October 2026 dollars (CPI-U), the average equals $44.24 and the high of $22.00 equals $46.41.
March 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $20.97 | $19.13 |
| Change vs February 1997 | −$1.21 | −$1.72 |
| Change vs March 1996 | −$0.36 | −$0.72 |
| Highest daily price | $22.00 Mar 18, 1997 | $20.00 Mar 19, 1997 |
| Lowest daily price | $20.15 Mar 11, 1997 | $18.53 Mar 27, 1997 |
| Published daily observations | 20 | 20 |
| Average in October 2026 dollars (CPI-U) | $44.24 | $40.35 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 1997.
March in other years
| Year | WTI average | vs March 1997 | Real |
|---|---|---|---|
| 2026 | $91.38 | +335.8% | $93.40 |
| 2025 | $68.24 | +225.4% | $72.02 |
| 2024 | $81.28 | +287.6% | $87.83 |
| 2023 | $73.28 | +249.5% | $81.94 |
| 2022 | $108.50 | +417.4% | $127.37 |
| 2021 | $62.33 | +197.2% | $79.42 |
| 2020 | $29.21 | +39.3% | $38.19 |
| 2019 | $58.15 | +177.3% | $77.21 |
| 2018 | $62.73 | +199.1% | $84.84 |
| 2017 | $49.33 | +135.2% | $68.29 |
| 2016 | $37.55 | +79.1% | $53.22 |
| 2015 | $47.82 | +128.0% | $68.35 |
| 2014 | $100.80 | +380.7% | $143.98 |
| 2013 | $92.94 | +343.2% | $134.76 |
| 2012 | $106.16 | +406.2% | $156.20 |
| 2011 | $102.86 | +390.5% | $155.35 |
| 2010 | $81.20 | +287.2% | $125.93 |
| 2009 | $47.94 | +128.6% | $76.07 |
| 2008 | $105.45 | +402.9% | $166.68 |
| 2007 | $60.44 | +188.2% | $99.34 |
| 2006 | $62.69 | +199.0% | $105.90 |
| 2005 | $54.19 | +158.4% | $94.62 |
| 2004 | $36.74 | +75.2% | $66.17 |
| 2003 | $33.51 | +59.8% | $61.40 |
| 2002 | $24.53 | +17.0% | $46.30 |
| 2001 | $27.25 | +29.9% | $52.20 |
| 2000 | $29.84 | +42.3% | $58.83 |
| 1999 | $14.68 | −30.0% | $30.03 |
| 1998 | $15.12 | −27.9% | $31.46 |
| 1997 | $20.97 | — | $44.24 |
| 1996 | $21.33 | +1.7% | $46.24 |
| 1995 | $18.54 | −11.6% | $41.33 |
| 1994 | $14.68 | −30.0% | $33.66 |
| 1993 | $20.32 | −3.1% | $47.76 |
| 1992 | $18.92 | −9.8% | $45.84 |
| 1991 | $19.90 | −5.1% | $49.75 |
| 1990 | $20.39 | −2.8% | $53.47 |
| 1989 | $19.48 | −7.1% | $53.76 |
| 1988 | $16.20 | −22.7% | $46.93 |
| 1987 | $18.30 | −12.7% | $55.10 |
| 1986 | $12.61 | −39.9% | $39.12 |
“—” 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 March 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 3, 1997 – Mar 31, 1997 | Mar 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 3, 1997 – Mar 31, 1997 | Mar 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)