From the $145.29 record of 2008 to the first negative price in 2020, this page tracks crude year by year: WTI and Brent annual averages side by side since 2000, with the events that moved them. For per-benchmark detail see the WTI and Brent tables.
| Year | WTI Avg | WTI Range | Brent Avg | Brent Range |
|---|---|---|---|---|
| 2026 YTD | 82.08 | 56–113 | 87.26 | 60–118 |
| 2025 | 64.74 | 55–80 | 68.10 | 59–82 |
| 2024 | 75.76 | 66–87 | 79.82 | 69–91 |
| 2023 | 77.60 | 67–94 | 82.19 | 72–97 |
| 2022 | 94.33 | 71–124 | 98.97 | 76–128 |
| 2021 | 68.11 | 48–85 | 70.95 | 51–86 |
| 2020 | 39.34 | -38–63 | 43.09 | 19–69 |
| 2019 | 57.04 | 47–66 | 64.16 | 55–75 |
| 2018 | 64.95 | 43–76 | 71.77 | 50–86 |
| 2017 | 50.85 | 43–60 | 54.73 | 45–67 |
| 2016 | 43.44 | 26–54 | 45.16 | 28–56 |
| 2015 | 48.76 | 35–61 | 53.50 | 36–68 |
| 2014 | 92.91 | 53–107 | 99.28 | 57–115 |
| 2013 | 98.05 | 87–111 | 108.67 | 99–119 |
| 2012 | 94.21 | 78–110 | 111.72 | 89–126 |
| 2011 | 95.11 | 76–114 | 110.99 | 93–127 |
| 2010 | 79.61 | 68–92 | 80.36 | 70–95 |
| 2009 | 62.09 | 34–81 | 63.57 | 41–80 |
| 2008 | 99.75 | 34–145 | 98.95 | 37–146 |
| 2007 | 72.36 | 50–98 | 82.55 | 69–96 |
| 2006 | 66.25 | 56–77 | — | — |
| 2005 | 56.70 | 42–70 | — | — |
| 2004 | 41.47 | 32–55 | — | — |
| 2003 | 30.99 | 25–38 | — | — |
| 2002 | 26.15 | 18–33 | — | — |
| 2001 | 25.96 | 17–32 | — | — |
| 2000 | 32.39 | 26–38 | — | — |
| Year | What happened |
|---|---|
| 2008 | WTI spikes to $145 in July on emerging-market demand, then collapses below $45 as the financial crisis hits |
| 2014 | US shale boom floods the market; OPEC declines to cut and prices halve in six months |
| 2016 | Bottom of the shale bust — WTI briefly under $30; OPEC+ alliance with Russia forms |
| 2020 | COVID-19 demand collapse; expiring WTI contract settles at −$37.63 on April 20 — the first negative oil price in history |
| 2022 | Russia invades Ukraine; WTI tops $120 and retail fuels set records |
Prices are daily front-month futures settlements (nominal). Download the series on data downloads, or see what retail fuels did over the same period.
WTI's highest daily settlement was $145.29 per barrel in July 2008, driven by booming demand and a weak dollar just before the financial crisis. Brent peaked near $146 the same month. In inflation-adjusted terms, the 2008 peak remains the modern record.
On April 20, 2020, the expiring WTI contract settled at −$37.63 — holders paid buyers to take delivery because COVID-19 had collapsed demand and storage at Cushing was effectively full. Excluding that anomaly, the modern lows were the high-$20s in early 2016 and $30s in late 2008.
WTI averaged $99.75 per barrel in 2008 — but the range was extraordinary: a $145.29 July peak and a $33.87 December low as the financial crisis unfolded.