Oil Prices in June 1998: WTI & Brent Daily Prices and Monthly Average
At $13.72 per barrel, June 1998's WTI average was the lowest monthly average in nominal terms since July 1986, down $1.19 (8.0%) from May 1998. The average was 29% below the $19.26 of June 1997.
Daily spot prices, June 1998
Chart data table (22 rows; WTI on 22, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| Jun 30, 1998 | $14.30 | $11.84 |
| Jun 29, 1998 | $14.29 | $11.83 |
| Jun 26, 1998 | $14.21 | $12.04 |
| Jun 25, 1998 | $13.90 | $11.94 |
| Jun 24, 1998 | $14.54 | $12.50 |
| Jun 23, 1998 | $14.65 | $12.09 |
| Jun 22, 1998 | $13.54 | $11.23 |
| Jun 19, 1998 | $11.80 | $10.89 |
| Jun 18, 1998 | $11.80 | $10.88 |
| Jun 17, 1998 | $12.55 | $11.30 |
| Jun 16, 1998 | $12.38 | $10.77 |
| Jun 15, 1998 | $11.69 | $10.77 |
| Jun 12, 1998 | $12.66 | $11.62 |
| Jun 11, 1998 | $12.67 | $12.12 |
| Jun 10, 1998 | $13.54 | $12.23 |
| Jun 9, 1998 | $13.76 | $12.76 |
| Jun 8, 1998 | $14.49 | $13.56 |
| Jun 5, 1998 | $15.13 | $13.95 |
| Jun 4, 1998 | $15.24 | $13.71 |
| Jun 3, 1998 | $14.94 | $13.23 |
| Jun 2, 1998 | $14.81 | $13.62 |
| Jun 1, 1998 | $14.99 | $13.66 |
Prices peaked at $15.24 on Jun 4, 1998, then fell to $11.69 on Jun 15, 1998 and ended at $14.30. The largest one-day move was +$1.74 on Jun 22, 1998 (+14.7%).
Brent averaged $12.21, on matched dates $1.52 below WTI on average across 22 dates.
Among the 41 June averages EIA has published, 1998's ranks 2nd lowest. Within 1998 it ranks 4th lowest of the 12 monthly averages. WTI moved 5% or more from the previous published price on 7 days. In October 2026 dollars (CPI-U), the average equals $28.41 and the high of $15.24 equals $31.56.
June 1998 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $13.72 | $12.21 |
| Change vs May 1998 | −$1.19 | −$2.15 |
| Change vs June 1997 | −$5.54 | −$5.37 |
| Highest daily price | $15.24 Jun 4, 1998 | $13.95 Jun 5, 1998 |
| Lowest daily price | $11.69 Jun 15, 1998 | $10.77 Jun 15, 1998 |
| Published daily observations | 22 | 22 |
| Average in October 2026 dollars (CPI-U) | $28.41 | $25.28 |
Monthly averages are EIA's published figures. Real figures use CPI-U for June 1998.
June in other years
| Year | WTI average | vs June 1998 | Real |
|---|---|---|---|
| 2026 | $84.81 | +518.1% | $85.71 |
| 2025 | $68.17 | +396.9% | $71.33 |
| 2024 | $79.77 | +481.4% | $85.70 |
| 2023 | $70.25 | +412.0% | $77.71 |
| 2022 | $114.84 | +737.0% | $130.81 |
| 2021 | $71.38 | +420.3% | $88.67 |
| 2020 | $38.31 | +179.2% | $50.16 |
| 2019 | $54.66 | +298.4% | $72.02 |
| 2018 | $67.87 | +394.7% | $90.90 |
| 2017 | $45.18 | +229.3% | $62.25 |
| 2016 | $48.76 | +255.4% | $68.28 |
| 2015 | $59.82 | +336.0% | $84.60 |
| 2014 | $105.79 | +671.1% | $149.81 |
| 2013 | $95.77 | +598.0% | $138.43 |
| 2012 | $82.30 | +499.9% | $121.04 |
| 2011 | $96.26 | +601.6% | $143.93 |
| 2010 | $75.34 | +449.1% | $116.66 |
| 2009 | $69.64 | +407.6% | $108.97 |
| 2008 | $133.88 | +875.8% | $206.50 |
| 2007 | $67.49 | +391.9% | $109.33 |
| 2006 | $70.95 | +417.1% | $118.02 |
| 2005 | $56.35 | +310.7% | $97.78 |
| 2004 | $38.03 | +177.2% | $67.66 |
| 2003 | $30.66 | +123.5% | $56.33 |
| 2002 | $25.52 | +86.0% | $47.88 |
| 2001 | $27.60 | +101.2% | $52.33 |
| 2000 | $31.82 | +131.9% | $62.29 |
| 1999 | $17.92 | +30.6% | $36.39 |
| 1998 | $13.72 | — | $28.41 |
| 1997 | $19.26 | +40.4% | $40.55 |
| 1996 | $20.42 | +48.8% | $43.98 |
| 1995 | $18.45 | +34.5% | $40.83 |
| 1994 | $19.06 | +38.9% | $43.47 |
| 1993 | $19.09 | +39.1% | $44.62 |
| 1992 | $22.39 | +63.2% | $53.90 |
| 1991 | $20.19 | +47.2% | $50.11 |
| 1990 | $16.70 | +21.7% | $43.39 |
| 1989 | $20.05 | +46.1% | $54.53 |
| 1988 | $16.53 | +20.5% | $47.28 |
| 1987 | $20.07 | +46.3% | $59.68 |
| 1986 | $13.43 | −2.1% | $41.40 |
“—” 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 June 1998.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jun 1, 1998 – Jun 30, 1998 | Jun 30, 1998 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jun 1, 1998 – Jun 30, 1998 | Jun 30, 1998 |
| 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:1998 daily prices (CSV)