Oil Prices in October 1997: WTI & Brent Daily Prices and Monthly Average
WTI averaged $21.33 per barrel in October 1997, up $1.53 (7.7%) from September 1997. A year earlier, in October 1996, it averaged $24.88, so the price was lower by $3.55 (14.3%) year over year.
Daily spot prices, October 1997
Chart data table (23 rows; WTI on 23, Brent on 23)
| Period | WTI | Brent |
|---|---|---|
| Oct 31, 1997 | $21.10 | $19.42 |
| Oct 30, 1997 | $21.26 | $19.45 |
| Oct 29, 1997 | $20.82 | $19.00 |
| Oct 28, 1997 | $20.40 | $18.86 |
| Oct 27, 1997 | $21.03 | $19.63 |
| Oct 24, 1997 | $20.99 | $19.45 |
| Oct 23, 1997 | $21.18 | $19.89 |
| Oct 22, 1997 | $21.44 | $19.86 |
| Oct 21, 1997 | $20.68 | $19.30 |
| Oct 20, 1997 | $20.69 | $19.29 |
| Oct 17, 1997 | $21.41 | $19.43 |
| Oct 16, 1997 | $20.98 | $19.56 |
| Oct 15, 1997 | $20.65 | $19.27 |
| Oct 14, 1997 | $20.75 | $19.40 |
| Oct 13, 1997 | $21.34 | $20.08 |
| Oct 10, 1997 | $22.01 | $20.73 |
| Oct 9, 1997 | $22.01 | $20.60 |
| Oct 8, 1997 | $22.19 | $20.79 |
| Oct 7, 1997 | $21.88 | $20.71 |
| Oct 6, 1997 | $21.97 | $20.94 |
| Oct 3, 1997 | $22.86 | $21.29 |
| Oct 2, 1997 | $21.82 | $20.08 |
| Oct 1, 1997 | $21.02 | $19.87 |
Prices peaked at $22.86 on Oct 3, 1997, then fell to $20.40 on Oct 28, 1997 and ended at $21.10. The largest one-day move was +$1.04 on Oct 3, 1997 (+4.8%).
Brent averaged $19.87, on matched dates $1.46 below WTI on average across 23 dates.
Among the 41 October averages EIA has published, 1997's ranks 9th lowest. Within 1997 it ranks 3rd highest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $44.55 and the high of $22.86 equals $47.74.
October 1997 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $21.33 | $19.87 |
| Change vs September 1997 | +$1.53 | +$1.41 |
| Change vs October 1996 | −$3.55 | −$4.29 |
| Highest daily price | $22.86 Oct 3, 1997 | $21.29 Oct 3, 1997 |
| Lowest daily price | $20.40 Oct 28, 1997 | $18.86 Oct 28, 1997 |
| Published daily observations | 23 | 23 |
| Average in October 2026 dollars (CPI-U) | $44.55 | $41.50 |
Monthly averages are EIA's published figures. Real figures use CPI-U for October 1997.
October in other years
| Year | WTI average | vs October 1997 | Real |
|---|---|---|---|
| 2026 | $102.07 | +378.5% | $102.07 |
| 2025 | $60.89 | +185.5% | — |
| 2024 | $71.99 | +237.5% | $76.97 |
| 2023 | $85.64 | +301.5% | $93.95 |
| 2022 | $87.55 | +310.5% | $99.15 |
| 2021 | $81.48 | +282.0% | $99.43 |
| 2020 | $39.40 | +84.7% | $51.07 |
| 2019 | $53.96 | +153.0% | $70.77 |
| 2018 | $70.75 | +231.7% | $94.43 |
| 2017 | $51.58 | +141.8% | $70.58 |
| 2016 | $49.78 | +133.4% | $69.50 |
| 2015 | $46.22 | +116.7% | $65.59 |
| 2014 | $84.40 | +295.7% | $119.97 |
| 2013 | $100.54 | +371.4% | $145.30 |
| 2012 | $89.49 | +319.5% | $130.57 |
| 2011 | $86.32 | +304.7% | $128.67 |
| 2010 | $81.89 | +283.9% | $126.37 |
| 2009 | $75.72 | +255.0% | $118.22 |
| 2008 | $76.61 | +259.2% | $119.39 |
| 2007 | $85.80 | +302.3% | $138.60 |
| 2006 | $58.89 | +176.1% | $98.49 |
| 2005 | $62.26 | +191.9% | $105.49 |
| 2004 | $53.28 | +149.8% | $94.20 |
| 2003 | $30.34 | +42.2% | $55.35 |
| 2002 | $28.84 | +35.2% | $53.69 |
| 2001 | $22.17 | +3.9% | $42.11 |
| 2000 | $33.11 | +55.2% | $64.22 |
| 1999 | $22.69 | +6.4% | $45.53 |
| 1998 | $14.46 | −32.2% | $29.76 |
| 1997 | $21.33 | — | $44.55 |
| 1996 | $24.88 | +16.6% | $53.05 |
| 1995 | $17.43 | −18.3% | $38.27 |
| 1994 | $17.72 | −16.9% | $40.00 |
| 1993 | $18.15 | −14.9% | $42.04 |
| 1992 | $21.69 | +1.7% | $51.63 |
| 1991 | $23.23 | +8.9% | $57.06 |
| 1990 | $36.04 | +69.0% | $91.12 |
| 1989 | $20.10 | −5.8% | $54.01 |
| 1988 | $13.77 | −35.4% | $38.66 |
| 1987 | $19.86 | −6.9% | $58.14 |
| 1986 | $14.90 | −30.1% | $45.59 |
“—” 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 October 1997.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Oct 1, 1997 – Oct 31, 1997 | Oct 31, 1997 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Oct 1, 1997 – Oct 31, 1997 | Oct 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)