Oil Prices in May 2024: WTI & Brent Daily Prices and Monthly Average
WTI average
$80.02
EIA monthly average
vs April 2024
−6.2%
$85.35
vs May 2023
+11.8%
$71.58
Brent average
$81.75
avg daily Brent − WTI +$1.73
WTI averaged $80.02 per barrel in May 2024, down $5.33 (6.2%) from April 2024. A year earlier, in May 2023, it averaged $71.58, so the price was higher by $8.44 (11.8%) year over year.
Daily spot prices, May 2024
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| May 31, 2024 | $77.97 | $79.41 |
| May 30, 2024 | $78.96 | $81.42 |
| May 29, 2024 | $80.24 | $81.50 |
| May 28, 2024 | $80.90 | $81.34 |
| May 24, 2024 | $78.48 | $78.92 |
| May 23, 2024 | $77.47 | $79.25 |
| May 22, 2024 | $79.15 | $79.90 |
| May 21, 2024 | $80.66 | $81.22 |
| May 20, 2024 | $81.39 | $81.91 |
| May 17, 2024 | $81.66 | $82.24 |
| May 16, 2024 | $80.85 | $81.65 |
| May 15, 2024 | $80.23 | $79.98 |
| May 14, 2024 | $79.62 | $81.00 |
| May 13, 2024 | $80.71 | $83.18 |
| May 10, 2024 | $79.81 | $83.39 |
| May 9, 2024 | $80.86 | $83.27 |
| May 8, 2024 | $80.57 | $82.44 |
| May 7, 2024 | $79.97 | $82.69 |
| May 6, 2024 | $80.10 | — |
| May 3, 2024 | $79.65 | $83.60 |
| May 2, 2024 | $80.59 | $84.81 |
| May 1, 2024 | $80.70 | $83.55 |
Prices peaked at $81.66 on May 17, 2024, then fell to $77.47 on May 23, 2024 and ended at $77.97.
Brent averaged $81.75; its premium over WTI on matched dates averaged $1.73, with the daily Brent − WTI difference ranging from −$0.25 to +$4.22.
May 2024 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $80.02 | $81.75 |
| Change vs April 2024 | −$5.33 | −$8.19 |
| Change vs May 2023 | +$8.44 | +$6.28 |
| Highest daily price | $81.66 May 17, 2024 | $84.81 May 2, 2024 |
| Lowest daily price | $77.47 May 23, 2024 | $78.92 May 24, 2024 |
| Published daily observations | 22 | 21 |
| Average in September 2026 dollars (CPI-U) | $85.85 | $87.70 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 2024.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 1, 2024 – May 31, 2024 | May 31, 2024 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 1, 2024 – May 31, 2024 | May 31, 2024 |
| 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:2024 daily prices (CSV)