Oil Prices in May 1999: WTI & Brent Daily Prices and Monthly Average
At $17.72 per barrel, May 1999's WTI average was the highest monthly average in nominal terms since December 1997, up $0.41 (2.4%) from April 1999. A year earlier, in May 1998, it averaged $14.91, so the price was higher by $2.81 (18.8%) year over year.
Daily spot prices, May 1999
Chart data table (20 rows; WTI on 20, Brent on 19)
| Period | WTI | Brent |
|---|---|---|
| May 28, 1999 | $16.85 | $14.75 |
| May 27, 1999 | $17.18 | $15.04 |
| May 26, 1999 | $17.32 | $15.18 |
| May 25, 1999 | $17.25 | $14.71 |
| May 24, 1999 | $16.77 | $14.83 |
| May 21, 1999 | $17.22 | $14.49 |
| May 20, 1999 | $17.04 | $14.44 |
| May 19, 1999 | $16.77 | $14.42 |
| May 18, 1999 | $17.09 | $14.43 |
| May 17, 1999 | $17.76 | $14.98 |
| May 14, 1999 | $18.04 | $15.18 |
| May 13, 1999 | $18.11 | $15.21 |
| May 12, 1999 | $17.44 | $14.74 |
| May 11, 1999 | $17.84 | $15.23 |
| May 10, 1999 | $18.57 | $15.72 |
| May 7, 1999 | $18.23 | $15.66 |
| May 6, 1999 | $18.23 | $16.44 |
| May 5, 1999 | $18.89 | $16.85 |
| May 4, 1999 | $18.94 | $16.98 |
| May 3, 1999 | $18.83 | — |
Prices fell over the month, from $18.83 on May 3, 1999 to $16.85 on May 28, 1999.
Brent averaged $15.23, on matched dates $2.43 below WTI on average across 19 dates.
Among the 41 May averages EIA has published, 1999's ranks 4th lowest. Within 1999 it ranks 5th lowest of the 12 monthly averages. The high was $18.94 on May 4, 1999 and the low $16.77 on May 19, 1999. In October 2026 dollars (CPI-U), the average equals $35.98 and the high of $18.94 equals $38.46.
May 1999 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $17.72 | $15.23 |
| Change vs April 1999 | +$0.41 | −$0.06 |
| Change vs May 1998 | +$2.81 | +$0.87 |
| Highest daily price | $18.94 May 4, 1999 | $16.98 May 4, 1999 |
| Lowest daily price | $16.77 May 19, 1999 | $14.42 May 19, 1999 |
| Published daily observations | 20 | 19 |
| Average in October 2026 dollars (CPI-U) | $35.98 | $30.93 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 1999.
May in other years
| Year | WTI average | vs May 1999 | Real |
|---|---|---|---|
| 2026 | $102.13 | +476.4% | $102.86 |
| 2025 | $62.17 | +250.8% | $65.27 |
| 2024 | $80.02 | +351.6% | $85.99 |
| 2023 | $71.58 | +304.0% | $79.44 |
| 2022 | $109.55 | +518.2% | $126.50 |
| 2021 | $65.17 | +267.8% | $81.71 |
| 2020 | $28.56 | +61.2% | $37.60 |
| 2019 | $60.83 | +243.3% | $80.17 |
| 2018 | $69.98 | +294.9% | $93.88 |
| 2017 | $48.48 | +173.6% | $66.86 |
| 2016 | $46.71 | +163.6% | $65.63 |
| 2015 | $59.27 | +234.5% | $84.12 |
| 2014 | $102.18 | +476.6% | $144.96 |
| 2013 | $94.51 | +433.4% | $136.93 |
| 2012 | $94.66 | +434.2% | $139.02 |
| 2011 | $100.90 | +469.4% | $150.71 |
| 2010 | $73.74 | +316.1% | $114.07 |
| 2009 | $59.03 | +233.1% | $93.16 |
| 2008 | $125.40 | +607.7% | $195.37 |
| 2007 | $63.46 | +258.1% | $103.00 |
| 2006 | $70.84 | +299.8% | $118.07 |
| 2005 | $49.83 | +181.2% | $86.51 |
| 2004 | $40.28 | +127.3% | $71.89 |
| 2003 | $28.11 | +58.6% | $51.70 |
| 2002 | $27.04 | +52.6% | $50.76 |
| 2001 | $28.63 | +61.6% | $54.38 |
| 2000 | $28.79 | +62.5% | $56.66 |
| 1999 | $17.72 | — | $35.98 |
| 1998 | $14.91 | −15.9% | $30.91 |
| 1997 | $20.82 | +17.5% | $43.89 |
| 1996 | $21.17 | +19.5% | $45.63 |
| 1995 | $19.74 | +11.4% | $43.77 |
| 1994 | $17.89 | +1.0% | $40.94 |
| 1993 | $19.95 | +12.6% | $46.69 |
| 1992 | $20.98 | +18.4% | $50.69 |
| 1991 | $21.23 | +19.8% | $52.84 |
| 1990 | $18.20 | +2.7% | $47.54 |
| 1989 | $20.12 | +13.5% | $54.85 |
| 1988 | $17.42 | −1.7% | $50.04 |
| 1987 | $19.44 | +9.7% | $58.01 |
| 1986 | $15.38 | −13.2% | $47.67 |
“—” 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 May 1999.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 3, 1999 – May 28, 1999 | May 28, 1999 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 4, 1999 – May 28, 1999 | May 28, 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)