Oil Prices in January 1999: WTI & Brent Daily Prices and Monthly Average
WTI's monthly average rose to $12.52 in January 1999, up $1.17 (10.3%) from December 1998. The average was 25% below the $16.72 of January 1998.
Daily spot prices, January 1999
Chart data table (20 rows; WTI on 19, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Jan 29, 1999 | $12.81 | $11.34 |
| Jan 28, 1999 | $12.52 | $11.14 |
| Jan 27, 1999 | $12.40 | $11.03 |
| Jan 26, 1999 | $12.16 | $10.84 |
| Jan 25, 1999 | $12.41 | $11.21 |
| Jan 22, 1999 | $12.62 | $11.23 |
| Jan 21, 1999 | $12.45 | $11.14 |
| Jan 20, 1999 | $11.82 | $10.85 |
| Jan 19, 1999 | $12.13 | $11.19 |
| Jan 18, 1999 | — | $10.81 |
| Jan 15, 1999 | $12.21 | $10.97 |
| Jan 14, 1999 | $12.23 | $11.10 |
| Jan 13, 1999 | $12.33 | $10.90 |
| Jan 12, 1999 | $12.91 | $11.78 |
| Jan 11, 1999 | $13.43 | $12.07 |
| Jan 8, 1999 | $13.06 | $11.70 |
| Jan 7, 1999 | $12.99 | $11.08 |
| Jan 6, 1999 | $12.84 | $10.67 |
| Jan 5, 1999 | $12.04 | $10.30 |
| Jan 4, 1999 | $12.42 | $10.94 |
Prices peaked at $13.43 on Jan 11, 1999, then fell to $11.82 on Jan 20, 1999 and ended at $12.81. The largest one-day move was +$0.80 on Jan 6, 1999 (+6.6%).
Brent averaged $11.11, on matched dates $1.38 below WTI on average across 19 dates.
Among the 41 January averages EIA has published, 1999's ranks the lowest. Within 1999 it ranks 2nd lowest of the 12 monthly averages. WTI moved 5% or more from the previous published price on 2 days. In October 2026 dollars (CPI-U), the average equals $25.72 and the high of $13.43 equals $27.59.
January 1999 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $12.52 | $11.11 |
| Change vs December 1998 | +$1.17 | +$1.29 |
| Change vs January 1998 | −$4.20 | −$4.08 |
| Highest daily price | $13.43 Jan 11, 1999 | $12.07 Jan 11, 1999 |
| Lowest daily price | $11.82 Jan 20, 1999 | $10.30 Jan 5, 1999 |
| Published daily observations | 19 | 20 |
| Average in October 2026 dollars (CPI-U) | $25.72 | $22.82 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 1999.
January in other years
| Year | WTI average | vs January 1999 | Real |
|---|---|---|---|
| 2026 | $60.04 | +379.6% | $62.30 |
| 2025 | $75.74 | +505.0% | $80.47 |
| 2024 | $74.15 | +492.3% | $81.14 |
| 2023 | $78.12 | +524.0% | $88.13 |
| 2022 | $83.22 | +564.7% | $99.90 |
| 2021 | $52.00 | +315.3% | $67.09 |
| 2020 | $57.52 | +359.4% | $75.26 |
| 2019 | $51.38 | +310.4% | $68.89 |
| 2018 | $63.70 | +408.8% | $86.74 |
| 2017 | $52.50 | +319.3% | $72.97 |
| 2016 | $31.68 | +153.0% | $45.13 |
| 2015 | $47.22 | +277.2% | $68.19 |
| 2014 | $94.62 | +655.8% | $136.52 |
| 2013 | $94.76 | +656.9% | $138.89 |
| 2012 | $100.27 | +700.9% | $149.31 |
| 2011 | $89.17 | +612.2% | $136.66 |
| 2010 | $78.33 | +525.6% | $122.01 |
| 2009 | $41.71 | +233.1% | $66.67 |
| 2008 | $92.97 | +642.6% | $148.66 |
| 2007 | $54.51 | +335.4% | $90.89 |
| 2006 | $65.49 | +423.1% | $111.47 |
| 2005 | $46.84 | +274.1% | $82.90 |
| 2004 | $34.31 | +174.0% | $62.53 |
| 2003 | $32.95 | +163.2% | $61.21 |
| 2002 | $19.72 | +57.5% | $37.58 |
| 2001 | $29.59 | +136.3% | $57.04 |
| 2000 | $27.26 | +117.7% | $54.51 |
| 1999 | $12.52 | — | $25.72 |
| 1998 | $16.72 | +33.5% | $34.92 |
| 1997 | $25.13 | +100.7% | $53.31 |
| 1996 | $18.86 | +50.6% | $41.23 |
| 1995 | $18.04 | +44.1% | $40.51 |
| 1994 | $15.03 | +20.0% | $34.70 |
| 1993 | $19.03 | +52.0% | $45.04 |
| 1992 | $18.79 | +50.1% | $45.92 |
| 1991 | $25.23 | +101.5% | $63.26 |
| 1990 | $22.86 | +82.6% | $60.56 |
| 1989 | $18.02 | +43.9% | $50.22 |
| 1988 | $17.13 | +36.8% | $49.97 |
| 1987 | $18.65 | +49.0% | $56.61 |
| 1986 | $22.93 | +83.1% | $70.61 |
“—” 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 January 1999.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 4, 1999 – Jan 29, 1999 | Jan 29, 1999 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 4, 1999 – Jan 29, 1999 | Jan 29, 1999 |
| 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:1999 daily prices (CSV)