Oil Prices in September 1998: WTI & Brent Daily Prices and Monthly Average
WTI's monthly average rose to $15.03 in September 1998, up $1.56 (11.6%) from August 1998. A year earlier, in September 1997, it averaged $19.80, so the price was lower by $4.77 (24.1%) year over year.
Daily spot prices, September 1998
Chart data table (22 rows; WTI on 21, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| Sep 30, 1998 | $16.19 | $14.71 |
| Sep 29, 1998 | $16.01 | $14.38 |
| Sep 28, 1998 | $15.74 | $14.41 |
| Sep 25, 1998 | $15.80 | $14.55 |
| Sep 24, 1998 | $15.99 | $14.84 |
| Sep 23, 1998 | $15.80 | $14.67 |
| Sep 22, 1998 | $15.73 | $14.36 |
| Sep 21, 1998 | $15.58 | $14.31 |
| Sep 18, 1998 | $15.53 | $13.92 |
| Sep 17, 1998 | $15.07 | $12.97 |
| Sep 16, 1998 | $14.60 | $12.65 |
| Sep 15, 1998 | $14.72 | $12.61 |
| Sep 14, 1998 | $14.46 | $12.47 |
| Sep 11, 1998 | $14.39 | $12.66 |
| Sep 10, 1998 | $14.71 | $12.82 |
| Sep 9, 1998 | $14.37 | $12.53 |
| Sep 8, 1998 | $14.34 | $12.53 |
| Sep 7, 1998 | — | $12.51 |
| Sep 4, 1998 | $14.59 | $12.96 |
| Sep 3, 1998 | $14.70 | $12.54 |
| Sep 2, 1998 | $13.72 | $12.05 |
| Sep 1, 1998 | $13.62 | $12.11 |
Prices rose over the month, from $13.62 on Sep 1, 1998 to $16.19 on Sep 30, 1998, with gains on 15 of 21 trading days. The largest one-day move was +$0.98 on Sep 3, 1998 (+7.1%).
Brent averaged $13.34, on matched dates $1.65 below WTI on average across 21 dates.
Among the 41 September averages EIA has published, 1998's ranks 3rd lowest. Within 1998 it ranks 5th 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 $31.01 and the high of $16.19 equals $33.40.
September 1998 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $15.03 | $13.34 |
| Change vs August 1998 | +$1.56 | +$1.43 |
| Change vs September 1997 | −$4.77 | −$5.12 |
| Highest daily price | $16.19 Sep 30, 1998 | $14.84 Sep 24, 1998 |
| Lowest daily price | $13.62 Sep 1, 1998 | $12.05 Sep 2, 1998 |
| Published daily observations | 21 | 22 |
| Average in October 2026 dollars (CPI-U) | $31.01 | $27.52 |
Monthly averages are EIA's published figures. Real figures use CPI-U for September 1998.
September in other years
| Year | WTI average | vs September 1998 | Real |
|---|---|---|---|
| 2026 | $97.31 | +547.4% | $97.47 |
| 2025 | $63.96 | +325.5% | $66.46 |
| 2024 | $70.24 | +367.3% | $75.19 |
| 2023 | $89.43 | +495.0% | $98.07 |
| 2022 | $84.26 | +460.6% | $95.82 |
| 2021 | $71.65 | +376.7% | $88.16 |
| 2020 | $39.63 | +163.7% | $51.39 |
| 2019 | $56.95 | +278.9% | $74.86 |
| 2018 | $70.23 | +367.3% | $93.90 |
| 2017 | $49.82 | +231.5% | $68.13 |
| 2016 | $45.18 | +200.6% | $63.16 |
| 2015 | $45.48 | +202.6% | $64.51 |
| 2014 | $93.21 | +520.2% | $132.17 |
| 2013 | $106.29 | +607.2% | $153.21 |
| 2012 | $94.51 | +528.8% | $137.84 |
| 2011 | $85.52 | +469.0% | $127.22 |
| 2010 | $75.24 | +400.6% | $116.25 |
| 2009 | $69.41 | +361.8% | $108.47 |
| 2008 | $104.11 | +592.7% | $160.61 |
| 2007 | $79.92 | +431.7% | $129.38 |
| 2006 | $63.80 | +324.5% | $106.13 |
| 2005 | $65.59 | +336.4% | $111.35 |
| 2004 | $45.94 | +205.7% | $81.65 |
| 2003 | $28.31 | +88.4% | $51.59 |
| 2002 | $29.66 | +97.3% | $55.31 |
| 2001 | $26.20 | +74.3% | $49.59 |
| 2000 | $33.88 | +125.4% | $65.83 |
| 1999 | $23.80 | +58.3% | $47.84 |
| 1998 | $15.03 | — | $31.01 |
| 1997 | $19.80 | +31.7% | $41.46 |
| 1996 | $23.97 | +59.5% | $51.27 |
| 1995 | $18.23 | +21.3% | $40.16 |
| 1994 | $17.45 | +16.1% | $39.42 |
| 1993 | $17.50 | +16.4% | $40.71 |
| 1992 | $21.88 | +45.6% | $52.26 |
| 1991 | $21.89 | +45.6% | $53.85 |
| 1990 | $33.51 | +123.0% | $85.23 |
| 1989 | $19.59 | +30.3% | $52.89 |
| 1988 | $14.54 | −3.3% | $40.96 |
| 1987 | $19.53 | +29.9% | $57.32 |
| 1986 | $14.87 | −1.1% | $45.54 |
“—” 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 September 1998.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Sep 1, 1998 – Sep 30, 1998 | Sep 30, 1998 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Sep 1, 1998 – Sep 30, 1998 | Sep 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)