WTI crude oil averaged about $98 a barrel in October 2026, up from about $60 in January. The year has been volatile: monthly averages jumped above $90 in March, peaked near $99 in May, eased to around $79 in July and rose again in the autumn. Over January to October, WTI averaged about $85 a barrel, compared with $65 in 2025.
This page tracks WTI prices using World Bank monthly data, explains the gap between WTI and Brent, and sets out what moves US crude prices. For supply, see our WTI crude oil page.
WTI price by year
| Year | WTI, US$ per barrel | Brent, US$ per barrel | Brent premium |
|---|---|---|---|
| 2019 | 57.0 | 64.0 | 7.0 |
| 2020 | 39.3 | 42.3 | 3.0 |
| 2021 | 68.0 | 70.5 | 2.5 |
| 2022 | 94.4 | 99.8 | 5.4 |
| 2023 | 77.7 | 82.6 | 4.9 |
| 2024 | 75.9 | 80.7 | 4.8 |
| 2025 | 64.9 | 69.1 | 4.2 |
| 2026 (Jan to Oct) | 85.2 | 97.1 | 11.9 |
WTI price in 2026, month by month
| Month | WTI | Brent |
|---|---|---|
| January | 60.3 | 66.8 |
| February | 64.6 | 71.1 |
| March | 91.2 | 103.7 |
| April | 98.6 | 120.4 |
| May | 99.1 | 107.5 |
| June | 81.9 | 85.4 |
| July | 79.4 | 83.4 |
| August | 82.7 | 90.9 |
| September | 96.9 | 116.8 |
| October | 97.7 | 125.0 |
The WTI-Brent spread
WTI usually trades below Brent, the main international benchmark. In most recent years the gap has been about $3 to $7 a barrel, reflecting the cost of moving US crude from inland Cushing to the coast and across the ocean. In 2026 the gap widened sharply: Brent averaged about $27 above WTI in October. A wide spread makes US crude more competitive for buyers in Europe and Asia, which tends to raise US exports.
Record highs and lows
Since 2020, the highest monthly average for WTI was about $115 a barrel in June 2022, after the start of the war in Ukraine. The lowest was about $16.50 in April 2020, when demand collapsed during the pandemic. On 20 April 2020, the expiring front-month WTI futures contract even settled below zero for the first time, because storage at Cushing was nearly full.
What drives the WTI price
- Global supply and demand: OPEC+ production decisions, economic growth and seasonal fuel demand.
- US production and inventories: shale output in the Permian Basin and weekly stock levels, especially at Cushing.
- Geopolitics: conflicts and sanctions affecting major producers or shipping routes.
- Export logistics: pipeline capacity to the Gulf Coast and terminal and freight costs, which shape the WTI-Brent spread.
- The US dollar: oil is priced in dollars, so a stronger dollar tends to weigh on prices.
How physical WTI cargoes are priced
Physical cargoes are usually priced against a benchmark plus or minus a differential, rather than at a fixed price. The benchmark can be WTI futures, a published WTI assessment at Houston or Midland, or Brent for cargoes sold into Europe and Asia. The differential reflects quality, location, timing and freight. Our trading process page explains how offers are structured.
Getting a WTI offer from Agromer
Agromer offers US-origin WTI crude to corporate direct buyers with an LOI only, on a defined procedure. Send a recent LOI on company letterhead with volume, delivery period, destination and Incoterm.
Frequently asked questions
What is the WTI crude oil price today?
The latest World Bank monthly average is about $98 a barrel for October 2026. Daily prices move continuously; physical cargoes are priced against a benchmark at the time of the deal.
What was the average WTI price in 2025?
About $65 a barrel, according to World Bank data.
Why is WTI cheaper than Brent?
WTI is priced inland at Cushing, Oklahoma, so it carries pipeline and shipping costs to reach world markets. Brent is priced at sea.
Why did oil prices go negative in 2020?
On 20 April 2020 the expiring WTI futures contract settled below zero because demand had collapsed and storage at Cushing was nearly full.
How is WTI priced in physical trade?
Usually as a benchmark price plus or minus a differential for quality, location and timing.
Where can I buy WTI crude?
Agromer offers US-origin WTI to corporate direct buyers with an LOI. See our WTI crude oil page for the procedure.