Skip to content
US Oil Gauge
Menu

Oil Prices in 2016: WTI & Brent History and Monthly Averages

WTI average
$43.29
EIA annual average
WTI vs prior year
−11.0%
2015: $48.66
Brent average
$43.64
EIA annual average
Brent vs prior year
−16.6%
2015: $52.32

WTI averaged $43.29 per barrel in 2016, down $5.37 (11.0%) from 2015; that was the lowest annual average since 2004, and the 3rd consecutive annual decline.

Monthly average prices in 2016

Monthly averages and daily ranges, 2016 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$31.68$37.13$26.68$30.70−$0.79$45.06$43.66
February$30.32$32.74$26.19$32.18+$1.86$43.09$45.73
March$37.55$41.45$34.39$38.21+$0.66$53.13$54.06
April$40.75$46.03$34.30$41.58+$0.83$57.39$58.56
May$46.71$49.36$43.45$46.74+$0.03$65.51$65.56
June$48.76$51.23$45.80$48.25−$0.51$68.17$67.45
July$44.65$49.02$41.13$44.95+$0.15$62.52$62.94
August$44.72$48.48$39.50$45.84+$1.12$62.56$64.13
September$45.18$47.72$43.04$46.57+$1.42$63.05$64.99
October$49.78$51.59$46.83$49.52−$0.25$69.39$69.02
November$45.66$49.41$43.29$44.73−$1.07$63.74$62.45
December$51.97$54.01$49.85$53.31+$1.32$72.53$74.40

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

From $26.19 on Feb 11, 2016, WTI climbed to $54.01 by Dec 28, 2016, a 106% gain. Although the annual average fell, prices ended the year higher than they started: $37.13 on Jan 1, 2016 against $53.75 on Dec 30, 2016. The price moved by 5% or more in a single day 26 times. The steepest fall within the year ran from $51.23 on Jun 8, 2016 to $39.50 on Aug 2, 2016, a 23% drop.

The Brent–WTI spread changed sign during 2016: Brent's monthly average was below WTI's in 4 of 12 months and above it in the rest, for an average of +$0.41 on 253 matched dates. Brent averaged $43.64, down $8.68 (16.6%) from 2015.

The monthly average was lowest in February ($30.32) and highest in December ($51.97). In September 2026 dollars (CPI-U), the 2016 average is $60.77, lower than 2025's real average by $7.66 (11.2%). The 2010s as a whole averaged $72.42, so 2016 ran below its decade. Of 40 complete years with an EIA annual average, 2016 ranks 20th highest.

2016 summary statistics

MeasureWTIBrentBrent − WTI
Average$43.29$43.64+$0.41
Change vs 2015 average−$5.37−$8.68−$3.21
Highest daily price$54.01 Dec 28, 2016$54.96 Dec 30, 2016—
Lowest daily price$26.19 Feb 11, 2016$26.01 Jan 20, 2016—
Highest daily spread——+$4.11 Feb 26, 2016
Lowest daily spread——−$2.38 Jan 14, 2016
First observation$37.13 Jan 1, 2016$36.61 Jan 1, 2016—
Last observation$53.75 Dec 30, 2016$54.96 Dec 30, 2016—
Published daily observations254256253 matched
Average in September 2026 dollars$60.77$61.27—

Daily spot prices in 2016

Show all 257 dates (Jan 1, 2016 – Dec 30, 2016)
DateWTIBrentBrent − WTI
Jan 1, 2016$37.13$36.61−$0.52
Jan 4, 2016$36.81$36.28−$0.53
Jan 5, 2016$35.97$35.56−$0.41
Jan 6, 2016$33.97$33.89−$0.08
Jan 7, 2016$33.29$33.57+$0.28
Jan 8, 2016$33.20$31.67−$1.53
Jan 11, 2016$31.42$30.14−$1.28
Jan 12, 2016$30.42$29.14−$1.28
Jan 13, 2016$30.42$28.58−$1.84
Jan 14, 2016$31.22$28.84−$2.38
Jan 15, 2016$29.45$28.80−$0.65
Jan 18, 2016—$27.36—
Jan 19, 2016$28.47$27.36−$1.11
Jan 20, 2016$26.68$26.01−$0.67
Jan 21, 2016$29.55$27.59−$1.96
Jan 22, 2016$32.07$30.46−$1.61
Jan 25, 2016$30.31$29.82−$0.49
Jan 26, 2016$29.54$30.94+$1.40
Jan 27, 2016$32.32$31.83−$0.49
Jan 28, 2016$33.21$33.01−$0.20
Jan 29, 2016$33.66$33.14−$0.52
Feb 1, 2016$31.62$32.45+$0.83
Feb 2, 2016$29.90$30.98+$1.08
Feb 3, 2016$32.29$32.38+$0.09
Feb 4, 2016$31.63$32.76+$1.13
Feb 5, 2016$30.86$32.35+$1.49
Feb 8, 2016$29.71$31.64+$1.93
Feb 9, 2016$27.96$30.15+$2.19
Feb 10, 2016$27.54$29.64+$2.10
Feb 11, 2016$26.19$28.82+$2.63
Feb 12, 2016$29.32$31.80+$2.48
Feb 16, 2016$29.05$31.09+$2.04
Feb 17, 2016$30.68$33.21+$2.53
Feb 18, 2016$30.77$33.20+$2.43
Feb 19, 2016$29.59$31.66+$2.07
Feb 22, 2016$31.37$33.59+$2.22
Feb 23, 2016$31.84$31.90+$0.06
Feb 24, 2016$30.35$31.50+$1.15
Feb 25, 2016$31.40$32.83+$1.43
Feb 26, 2016$31.65$35.76+$4.11
Feb 29, 2016$32.74$35.92+$3.18
Mar 1, 2016$34.39$35.73+$1.34
Mar 2, 2016$34.57$36.38+$1.81
Mar 3, 2016$34.56$35.75+$1.19
Mar 4, 2016$35.91$37.61+$1.70
Mar 7, 2016$37.90$39.02+$1.12
Mar 8, 2016$36.67$39.16+$2.49
Mar 9, 2016$37.62$40.26+$2.64
Mar 10, 2016$37.77$38.63+$0.86
Mar 11, 2016$38.51$39.41+$0.90
Mar 14, 2016$37.20$38.06+$0.86
Mar 15, 2016$36.32$37.49+$1.17
Mar 16, 2016$38.43$38.38−$0.05
Mar 17, 2016$40.17$39.29−$0.88
Mar 18, 2016$39.47$39.26−$0.21
Mar 21, 2016$39.91$39.91$0.00
Mar 22, 2016$41.45$40.54−$0.91
Mar 23, 2016$38.28$38.84+$0.56
Mar 24, 2016$38.14$38.33+$0.19
Mar 28, 2016$37.99$38.33+$0.34
Mar 29, 2016$36.91$36.75−$0.16
Mar 30, 2016$36.91$36.75−$0.16
Mar 31, 2016$36.94$36.75−$0.19
Apr 1, 2016$35.36$36.42+$1.06
Apr 4, 2016$34.30$36.05+$1.75
Apr 5, 2016$34.52$35.88+$1.36
Apr 6, 2016$37.74$37.77+$0.03
Apr 7, 2016$37.30$37.15−$0.15
Apr 8, 2016$39.74$40.71+$0.97
Apr 11, 2016$40.46$41.58+$1.12
Apr 12, 2016$42.12$43.02+$0.90
Apr 13, 2016$41.70$42.81+$1.11
Apr 14, 2016$41.45$43.02+$1.57
Apr 15, 2016$40.40$41.32+$0.92
Apr 18, 2016$39.74$41.64+$1.90
Apr 19, 2016$40.88$43.02+$2.14
Apr 20, 2016$42.72$43.09+$0.37
Apr 21, 2016$43.18$43.48+$0.30
Apr 22, 2016$42.76$43.97+$1.21
Apr 25, 2016$41.67$42.97+$1.30
Apr 26, 2016$42.52$43.94+$1.42
Apr 27, 2016$45.29$44.17−$1.12
Apr 28, 2016$46.03$45.60−$0.43
Apr 29, 2016$45.98$45.64−$0.34
May 2, 2016$44.75$45.82+$1.07
May 3, 2016$43.65$43.09−$0.56
May 4, 2016$43.77$43.08−$0.69
May 5, 2016$44.33$44.39+$0.06
May 6, 2016$44.58$44.60+$0.02
May 9, 2016$43.45$42.43−$1.02
May 10, 2016$44.68$44.01−$0.67
May 11, 2016$46.21$46.08−$0.13
May 12, 2016$46.64$46.43−$0.21
May 13, 2016$46.22$47.05+$0.83
May 16, 2016$47.72$48.49+$0.77
May 17, 2016$48.29$48.71+$0.42
May 18, 2016$48.12$48.93+$0.81
May 19, 2016$48.16$47.01−$1.15
May 20, 2016$47.67$48.54+$0.87
May 23, 2016$48.12$47.77−$0.35
May 24, 2016$48.04$48.42+$0.38
May 25, 2016$49.10$48.87−$0.23
May 26, 2016$49.00$49.52+$0.52
May 27, 2016$49.36$49.09−$0.27
May 31, 2016$49.10$49.26+$0.16
Jun 1, 2016$49.07$48.81−$0.26
Jun 2, 2016$49.14$49.05−$0.09
Jun 3, 2016$48.69$48.50−$0.19
Jun 6, 2016$49.71$48.94−$0.77
Jun 7, 2016$50.37$49.76−$0.61
Jun 8, 2016$51.23$50.73−$0.50
Jun 9, 2016$50.52$50.59+$0.07
Jun 10, 2016$49.09$49.70+$0.61
Jun 13, 2016$48.89$49.36+$0.47
Jun 14, 2016$48.49$47.88−$0.61
Jun 15, 2016$47.92$47.47−$0.45
Jun 16, 2016$46.14$45.66−$0.48
Jun 17, 2016$48.00$46.57−$1.43
Jun 20, 2016$49.40$48.68−$0.72
Jun 21, 2016$48.95$48.18−$0.77
Jun 22, 2016$49.16$48.43−$0.73
Jun 23, 2016$49.34$48.63−$0.71
Jun 24, 2016$46.70$46.69−$0.01
Jun 27, 2016$45.80$45.07−$0.73
Jun 28, 2016$47.93$46.29−$1.64
Jun 29, 2016$49.85$48.40−$1.45
Jun 30, 2016$48.27$48.05−$0.22
Jul 1, 2016$49.02$47.65−$1.37
Jul 4, 2016—$48.02—
Jul 5, 2016$46.73$45.64−$1.09
Jul 6, 2016$47.37$45.70−$1.67
Jul 7, 2016$45.22$45.93+$0.71
Jul 8, 2016$45.37$44.53−$0.84
Jul 11, 2016$44.73$44.04−$0.69
Jul 12, 2016$46.82$46.72−$0.10
Jul 13, 2016$44.87$44.67−$0.20
Jul 14, 2016$45.64$46.01+$0.37
Jul 15, 2016$45.93$46.25+$0.32
Jul 18, 2016$45.23$45.35+$0.12
Jul 19, 2016$44.64$45.70+$1.06
Jul 20, 2016$44.96$45.82+$0.86
Jul 21, 2016$43.96$44.99+$1.03
Jul 22, 2016$43.41$44.24+$0.83
Jul 25, 2016$42.40$43.76+$1.36
Jul 26, 2016$42.16$43.56+$1.40
Jul 27, 2016$41.90$42.78+$0.88
Jul 28, 2016$41.13$41.87+$0.74
Jul 29, 2016$41.54$40.76−$0.78
Aug 1, 2016$40.05$40.17+$0.12
Aug 2, 2016$39.50$40.00+$0.50
Aug 3, 2016$40.80$40.45−$0.35
Aug 4, 2016$41.92$41.33−$0.59
Aug 5, 2016$41.83$42.47+$0.64
Aug 8, 2016$43.06$43.24+$0.18
Aug 9, 2016$42.78$43.37+$0.59
Aug 10, 2016$41.75$42.19+$0.44
Aug 11, 2016$43.51$44.23+$0.72
Aug 12, 2016$44.47$45.12+$0.65
Aug 15, 2016$45.72$47.31+$1.59
Aug 16, 2016$46.57$48.27+$1.70
Aug 17, 2016$46.81$48.58+$1.77
Aug 18, 2016$48.20$49.46+$1.26
Aug 19, 2016$48.48$49.39+$0.91
Aug 22, 2016$46.80$48.10+$1.30
Aug 23, 2016$47.54$48.70+$1.16
Aug 24, 2016$46.29$47.56+$1.27
Aug 25, 2016$46.97$49.25+$2.28
Aug 26, 2016$47.64$49.66+$2.02
Aug 29, 2016$46.97$49.66+$2.69
Aug 30, 2016$46.32$47.94+$1.62
Aug 31, 2016$44.68$47.94+$3.26
Sep 1, 2016$43.17$45.05+$1.88
Sep 2, 2016$44.39$45.96+$1.57
Sep 5, 2016$44.39$46.72+$2.33
Sep 6, 2016$44.85$46.21+$1.36
Sep 7, 2016$45.47$47.00+$1.53
Sep 8, 2016$47.63$49.23+$1.60
Sep 9, 2016$45.88$48.37+$2.49
Sep 12, 2016$46.28$47.82+$1.54
Sep 13, 2016$44.91$46.48+$1.57
Sep 14, 2016$43.62$45.65+$2.03
Sep 15, 2016$43.85$45.83+$1.98
Sep 16, 2016$43.04$45.26+$2.22
Sep 19, 2016$43.34$46.04+$2.70
Sep 20, 2016$43.85$45.24+$1.39
Sep 21, 2016$45.33$45.99+$0.66
Sep 22, 2016$46.10$47.21+$1.11
Sep 23, 2016$44.36$46.71+$2.35
Sep 26, 2016$45.60$46.61+$1.01
Sep 27, 2016$44.65$44.95+$0.30
Sep 28, 2016$47.07$45.49−$1.58
Sep 29, 2016$47.72$48.43+$0.71
Sep 30, 2016$47.72$48.24+$0.52
Oct 3, 2016$48.80$48.61−$0.19
Oct 4, 2016$48.67$48.81+$0.14
Oct 5, 2016$49.75$49.57−$0.18
Oct 6, 2016$50.44$50.14−$0.30
Oct 7, 2016$49.76$50.49+$0.73
Oct 10, 2016$49.76$51.54+$1.78
Oct 11, 2016$50.72$50.48−$0.24
Oct 12, 2016$50.14$49.53−$0.61
Oct 13, 2016$50.47$49.29−$1.18
Oct 14, 2016$50.35$48.87−$1.48
Oct 17, 2016$49.97$49.31−$0.66
Oct 18, 2016$50.30$49.81−$0.49
Oct 19, 2016$51.59$51.85+$0.26
Oct 20, 2016$50.31$50.42+$0.11
Oct 21, 2016$50.61$50.28−$0.33
Oct 24, 2016$50.18$49.80−$0.38
Oct 25, 2016$49.45$49.08−$0.37
Oct 26, 2016$48.75$48.98+$0.23
Oct 27, 2016$49.71$49.13−$0.58
Oct 28, 2016$48.72$47.78−$0.94
Oct 31, 2016$46.83$46.20−$0.63
Nov 1, 2016$46.66——
Nov 2, 2016$45.32$44.26−$1.06
Nov 3, 2016$44.66$43.84−$0.82
Nov 4, 2016$44.07$43.06−$1.01
Nov 7, 2016$44.88$42.83−$2.05
Nov 8, 2016$44.96$43.47−$1.49
Nov 9, 2016$45.20$43.88−$1.32
Nov 10, 2016$44.62$43.67−$0.95
Nov 11, 2016$43.39$41.61−$1.78
Nov 14, 2016$43.29$41.83−$1.46
Nov 15, 2016$45.86$44.15−$1.71
Nov 16, 2016$45.56$45.07−$0.49
Nov 17, 2016$45.37$44.57−$0.80
Nov 18, 2016$45.69$44.41−$1.28
Nov 21, 2016$47.48$45.96−$1.52
Nov 22, 2016$48.07$46.10−$1.97
Nov 23, 2016$46.72$46.54−$0.18
Nov 24, 2016—$47.54—
Nov 25, 2016$46.72$46.32−$0.40
Nov 28, 2016$45.66$46.64+$0.98
Nov 29, 2016$45.29$44.68−$0.61
Nov 30, 2016$49.41$47.95−$1.46
Dec 1, 2016$51.08$52.28+$1.20
Dec 2, 2016$51.70$52.35+$0.65
Dec 5, 2016$51.72$53.30+$1.58
Dec 6, 2016$50.95$52.31+$1.36
Dec 7, 2016$49.85$51.90+$2.05
Dec 8, 2016$50.84$51.60+$0.76
Dec 9, 2016$51.51$52.19+$0.68
Dec 12, 2016$52.74$53.99+$1.25
Dec 13, 2016$52.99$53.28+$0.29
Dec 14, 2016$51.01$53.15+$2.14
Dec 15, 2016$50.90$51.72+$0.82
Dec 16, 2016$51.93$54.15+$2.22
Dec 19, 2016$52.13$53.53+$1.40
Dec 20, 2016$52.22$54.56+$2.34
Dec 21, 2016$51.44$53.01+$1.57
Dec 22, 2016$51.98$54.04+$2.06
Dec 23, 2016$52.01$53.93+$1.92
Dec 27, 2016$52.82$53.93+$1.11
Dec 28, 2016$54.01$53.93−$0.08
Dec 29, 2016$53.80$54.95+$1.15
Dec 30, 2016$53.75$54.96+$1.21

“—” means EIA published no price for that benchmark on that date.

Price episode covering 2016: 2014–16 price decline

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 1, 2016 – Dec 30, 2016Dec 30, 2016
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 1, 2016 – Dec 30, 2016Dec 30, 2016
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

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:2016 daily prices (CSV)