Oil Prices in November 2008: WTI & Brent Daily Prices and Monthly Average
WTI dropped in November 2008: the monthly average fell to $57.31, down $19.30 (25.2%) from October 2008, the lowest monthly average in nominal terms since January 2007. The average was 40% below the $94.77 of November 2007.
Daily spot prices, November 2008
Chart data table (19 rows)
| Period | WTI | Brent |
|---|---|---|
| Nov 28, 2008 | $55.21 | $47.72 |
| Nov 26, 2008 | $54.20 | $49.39 |
| Nov 25, 2008 | $50.02 | $47.51 |
| Nov 24, 2008 | $53.63 | $49.51 |
| Nov 21, 2008 | $49.22 | $44.91 |
| Nov 20, 2008 | $48.86 | $45.79 |
| Nov 19, 2008 | $53.64 | $48.35 |
| Nov 18, 2008 | $54.42 | $49.10 |
| Nov 17, 2008 | $55.14 | $50.82 |
| Nov 14, 2008 | $57.18 | $50.70 |
| Nov 13, 2008 | $58.31 | $51.32 |
| Nov 12, 2008 | $55.95 | $52.47 |
| Nov 11, 2008 | $59.38 | $54.76 |
| Nov 10, 2008 | $62.19 | $57.08 |
| Nov 7, 2008 | $61.06 | $56.84 |
| Nov 6, 2008 | $60.72 | $56.14 |
| Nov 5, 2008 | $65.41 | $61.09 |
| Nov 4, 2008 | $70.41 | $62.78 |
| Nov 3, 2008 | $63.93 | $60.32 |
Prices fell over the month, from $63.93 on Nov 3, 2008 to $55.21 on Nov 28, 2008. The largest one-day move was +$6.48 on Nov 4, 2008 (+10.1%).
Brent traded below WTI on average this month: $52.45 for the month, $4.86 under WTI across 19 matched dates.
It was the second-lowest monthly average of 2008. Adjusted with CPI-U, the November 2008 average equals $90.90 in September 2026 dollars.
November 2008 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $57.31 | $52.45 |
| Change vs October 2008 | −$19.30 | −$19.13 |
| Change vs November 2007 | −$37.46 | −$39.96 |
| Highest daily price | $70.41 Nov 4, 2008 | $62.78 Nov 4, 2008 |
| Lowest daily price | $48.86 Nov 20, 2008 | $44.91 Nov 21, 2008 |
| Published daily observations | 19 | 19 |
| Average in September 2026 dollars (CPI-U) | $90.90 | $83.19 |
Monthly averages are EIA's published figures. Real figures use CPI-U for November 2008.
Part of the price episode: 2008 spike and crash
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Nov 3, 2008 – Nov 28, 2008 | Nov 28, 2008 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Nov 3, 2008 – Nov 28, 2008 | Nov 28, 2008 |
| 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:2008 daily prices (CSV)