Oil Prices in July 2004: WTI & Brent Daily Prices and Monthly Average
At $40.78 per barrel, July 2004's WTI average was the highest monthly average in nominal terms since EIA's records began in 1986, up $2.75 (7.2%) from June 2004. The average was 33% above the $30.76 of July 2003.
Daily spot prices, July 2004
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| Jul 30, 2004 | $43.72 | $41.47 |
| Jul 29, 2004 | $42.69 | $40.93 |
| Jul 28, 2004 | $42.81 | $41.08 |
| Jul 27, 2004 | $41.83 | $40.09 |
| Jul 26, 2004 | $41.45 | $39.75 |
| Jul 23, 2004 | $41.82 | $39.59 |
| Jul 22, 2004 | $41.51 | $39.16 |
| Jul 21, 2004 | $40.63 | $38.48 |
| Jul 20, 2004 | $40.86 | $38.96 |
| Jul 19, 2004 | $41.55 | $39.07 |
| Jul 16, 2004 | $41.10 | $38.49 |
| Jul 15, 2004 | $40.70 | $38.41 |
| Jul 14, 2004 | $40.98 | $37.51 |
| Jul 13, 2004 | $39.55 | $36.68 |
| Jul 12, 2004 | $39.30 | $37.73 |
| Jul 9, 2004 | $39.90 | $37.58 |
| Jul 8, 2004 | $40.27 | $37.13 |
| Jul 7, 2004 | $39.18 | $35.62 |
| Jul 6, 2004 | $39.56 | $36.47 |
| Jul 5, 2004 | — | $35.73 |
| Jul 2, 2004 | $38.37 | $35.36 |
| Jul 1, 2004 | $38.56 | $35.58 |
Prices rose over the month, from $38.56 on Jul 1, 2004 to $43.72 on Jul 30, 2004. The largest one-day move was +$1.64 on Jul 1, 2004 (+4.4%).
Brent traded below WTI on average this month: $38.22 for the month, $2.44 under WTI across 21 matched dates.
Adjusted with CPI-U, the July 2004 average equals $72.55 in September 2026 dollars.
July 2004 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $40.78 | $38.22 |
| Change vs June 2004 | +$2.75 | +$3.04 |
| Change vs July 2003 | +$10.02 | +$9.87 |
| Highest daily price | $43.72 Jul 30, 2004 | $41.47 Jul 30, 2004 |
| Lowest daily price | $38.37 Jul 2, 2004 | $35.36 Jul 2, 2004 |
| Published daily observations | 21 | 22 |
| Average in September 2026 dollars (CPI-U) | $72.55 | $67.99 |
Monthly averages are EIA's published figures. Real figures use CPI-U for July 2004.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jul 1, 2004 – Jul 30, 2004 | Jul 30, 2004 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jul 1, 2004 – Jul 30, 2004 | Jul 30, 2004 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | September 2026 |
Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:2004 daily prices (CSV)