Oil Prices in January 2023: WTI & Brent Daily Prices and Monthly Average
WTI averaged $78.12 per barrel in January 2023, up $1.68 (2.2%) from December 2022. A year earlier, in January 2022, it averaged $83.22, so the price was lower by $5.10 (6.1%) year over year.
Daily spot prices, January 2023
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| Jan 31, 2023 | $78.95 | $83.42 |
| Jan 30, 2023 | $77.97 | $84.90 |
| Jan 27, 2023 | $79.73 | $85.36 |
| Jan 26, 2023 | $80.64 | $86.29 |
| Jan 25, 2023 | $79.78 | $85.08 |
| Jan 24, 2023 | $79.86 | $85.25 |
| Jan 23, 2023 | $81.62 | $87.54 |
| Jan 20, 2023 | $81.27 | $86.96 |
| Jan 19, 2023 | $80.31 | $85.08 |
| Jan 18, 2023 | $79.53 | $83.78 |
| Jan 17, 2023 | $80.25 | $84.38 |
| Jan 16, 2023 | — | $82.65 |
| Jan 13, 2023 | $79.90 | $83.43 |
| Jan 12, 2023 | $78.32 | $82.59 |
| Jan 11, 2023 | $77.46 | $81.11 |
| Jan 10, 2023 | $75.11 | $78.40 |
| Jan 9, 2023 | $74.69 | $77.50 |
| Jan 6, 2023 | $73.77 | $76.41 |
| Jan 5, 2023 | $73.61 | $76.73 |
| Jan 4, 2023 | $72.82 | $75.31 |
| Jan 3, 2023 | $76.87 | $80.36 |
Prices dipped to $72.82 on Jan 4, 2023, then climbed to $81.62 on Jan 23, 2023 and ended at $78.95. The largest one-day move was −$4.05 on Jan 4, 2023 (−5.3%).
Brent averaged $82.50; its premium over WTI on matched dates averaged $4.37, with the daily Brent − WTI difference ranging from +$2.49 to +$6.93.
Adjusted with CPI-U, the January 2023 average equals $87.98 in September 2026 dollars.
January 2023 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $78.12 | $82.50 |
| Change vs December 2022 | +$1.68 | +$1.58 |
| Change vs January 2022 | −$5.10 | −$4.01 |
| Highest daily price | $81.62 Jan 23, 2023 | $87.54 Jan 23, 2023 |
| Lowest daily price | $72.82 Jan 4, 2023 | $75.31 Jan 4, 2023 |
| Published daily observations | 20 | 21 |
| Average in September 2026 dollars (CPI-U) | $87.98 | $92.92 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 2023.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 3, 2023 – Jan 31, 2023 | Jan 31, 2023 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 3, 2023 – Jan 31, 2023 | Jan 31, 2023 |
| 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:2023 daily prices (CSV)