Brent Price History — Annual Average, High & Low by Year
Brent crude has averaged $90.15 per barrel in 2026 so far (daily closes through 2026-10-19). The tables below give the average, high, low and year-end closing price for every year since 2007, computed from daily front-month futures settlements.
Brent Annual Prices (USD per barrel)
| Year | Average | vs prior year | High | Low | Year-End Close |
|---|---|---|---|---|---|
| 2026 YTD | 90.15 | +32% | 118.35 | 59.96 | 108.54 |
| 2025 | 68.10 | −15% | 82.03 | 58.92 | 60.85 |
| 2024 | 79.82 | −3% | 91.17 | 69.19 | 74.64 |
| 2023 | 82.19 | −17% | 96.55 | 71.84 | 77.04 |
| 2022 | 98.97 | +39% | 127.98 | 76.10 | 85.91 |
| 2021 | 70.95 | +65% | 86.40 | 51.09 | 77.78 |
| 2020 | 43.09 | −33% | 68.91 | 19.33 | 51.80 |
| 2019 | 64.16 | −11% | 74.57 | 54.91 | 66.00 |
| 2018 | 71.77 | +31% | 86.29 | 50.47 | 53.80 |
| 2017 | 54.73 | +21% | 67.02 | 44.82 | 66.60 |
| 2016 | 45.16 | −16% | 56.22 | 27.88 | 56.13 |
| 2015 | 53.50 | −46% | 67.77 | 36.11 | 37.28 |
| 2014 | 99.28 | −9% | 115.06 | 57.33 | 57.33 |
| 2013 | 108.67 | −3% | 118.90 | 99.13 | 110.80 |
| 2012 | 111.72 | +1% | 126.22 | 89.23 | 111.11 |
| 2011 | 110.99 | +38% | 126.65 | 93.33 | 107.38 |
| 2010 | 80.36 | +26% | 94.75 | 69.55 | 94.75 |
| 2009 | 63.57 | −36% | 79.69 | 40.75 | 77.93 |
| 2008 | 98.95 | — | 146.08 | 36.61 | 45.59 |
| 2007 PARTIAL | 82.55 | — | 95.76 | 68.69 | 93.85 |
Figures are daily front-month futures settlements (ICE BZ); the average is the mean of daily closes for the year. A year marked PARTIAL covers only the months after the series begins (2007-07-30). Download the underlying series on the data downloads page, or see today's price on the live Brent page.
Brent Price by Decade
| Period | Average of annual averages | Highest daily settlement | Lowest daily settlement |
|---|---|---|---|
| 2007–2009 (2007 partial, excluded from the average) | 81.26 | 146.08 (2008) | 36.61 (2008) |
| 2010–2019 | 80.03 | 126.65 (2011) | 27.88 (2016) |
| 2020–2026 (so far) | 76.18 | 127.98 (2022) | 19.33 (2020) |
Prices in USD per barrel. The average of annual averages gives each year equal weight; the highest and lowest are single daily settlements. Partial decades start where this series begins.
Biggest Year-over-Year Moves
| Move | Year | Average vs prior year | Change | What was happening |
|---|---|---|---|---|
| Largest rises | 2021 | 43.09 → 70.95 | +65% | Reopening demand and OPEC+ supply discipline drove a sharp recovery |
| Largest rises | 2022 | 70.95 → 98.97 | +39% | Russia's invasion of Ukraine disrupted energy markets and sent prices above $120 |
| Largest rises | 2011 | 80.36 → 110.99 | +38% | Libyan supply loss during the Arab Spring lifted Brent in particular |
| Largest falls | 2015 | 99.28 → 53.50 | −46% | US shale growth and OPEC's decision to defend market share sent prices down |
| Largest falls | 2009 | 98.95 → 63.57 | −36% | The global recession cut oil demand sharply after the 2008 peak |
| Largest falls | 2020 | 64.16 → 43.09 | −33% | COVID-19 lockdowns collapsed demand; WTI briefly settled below zero in April and Brent fell below $20 |
Completed calendar years only. The "what was happening" notes describe widely documented events and are context, not a full explanation of each move; a dash means no note is attached. Full event list: oil crises and oil price history.
Most Volatile Years
| Year | Low | High | Average | High-to-low range, % of average |
|---|---|---|---|---|
| 2020 | 19.33 | 68.91 | 43.09 | 115% |
| 2008 | 36.61 | 146.08 | 98.95 | 111% |
| 2016 | 27.88 | 56.22 | 45.16 | 63% |
| 2009 | 40.75 | 79.69 | 63.57 | 61% |
| 2015 | 36.11 | 67.77 | 53.50 | 59% |
The five completed years with the widest gap between the lowest and highest daily settlement, measured against that year's average. A wide range means the price moved a long way within the year, whatever the average ended up being.
In Today's Dollars
| Rank | Year | Nominal average | Average in September 2026 dollars |
|---|---|---|---|
| 1 | 2011 | 110.99 | 166.25 |
| 2 | 2012 | 111.72 | 163.95 |
| 3 | 2013 | 108.67 | 157.18 |
| 4 | 2008 | 98.95 | 154.85 |
| 5 | 2014 | 99.28 | 141.30 |
Annual averages deflated with BLS CPI-U (2026 M09 = latest). Real = nominal × latest CPI ÷ that year's average CPI. The current year's average of 90.15 is 91.42 in today's dollars. The CPI series used here starts in 2008, so earlier years are not ranked. Oil in real terms with a chart: prices vs inflation.
Brent vs WTI by Year
| Year | WTI average | Brent average | Brent premium |
|---|---|---|---|
| 2026 YTD | 84.39 | 90.15 | +5.76 |
| 2025 | 64.74 | 68.10 | +3.36 |
| 2024 | 75.76 | 79.82 | +4.06 |
| 2023 | 77.60 | 82.19 | +4.59 |
| 2022 | 94.33 | 98.97 | +4.64 |
| 2021 | 68.11 | 70.95 | +2.84 |
| 2020 | 39.34 | 43.09 | +3.75 |
| 2019 | 57.04 | 64.16 | +7.12 |
| 2018 | 64.95 | 71.77 | +6.82 |
| 2017 | 50.85 | 54.73 | +3.88 |
| 2016 | 43.44 | 45.16 | +1.72 |
| 2015 | 48.76 | 53.50 | +4.74 |
| 2014 | 92.91 | 99.28 | +6.37 |
| 2013 | 98.05 | 108.67 | +10.62 |
| 2012 | 94.21 | 111.72 | +17.51 |
| 2011 | 95.11 | 110.99 | +15.88 |
| 2010 | 79.61 | 80.36 | +0.75 |
| 2009 | 62.09 | 63.57 | +1.48 |
| 2008 | 99.75 | 98.95 | −0.80 |
Difference between the two annual averages, for the years both series cover in full (Brent's daily history starts on July 30, 2007, so 2007 is left out). The gap is not constant: it reflects US inventories, export capacity and freight. Today's spread and the reasons: Brent vs WTI.
Brent Price History FAQ
What is the average Brent price in 2026?
Brent has averaged $90.15 per barrel in 2026 so far, trading between $59.96 and $118.35 (daily closing prices through 2026-10-19).
What is the highest Brent price on record?
In this dataset (daily closes since 2007), the highest Brent settlement was $146.08 per barrel, reached in 2008.
What is the lowest Brent price on record?
In this dataset (daily closes since 2007), the lowest Brent settlement was $19.33 per barrel, in 2020.
Which year had the highest average Brent price?
2012, when Brent averaged $111.72 per barrel. The lowest completed-year average in this dataset was $43.09 in 2020. Brent averaged above $100 in 3 completed years.
What was the biggest one-year drop in Brent?
The largest fall in the annual average was −46% in 2015, from $99.28 to $53.50 per barrel. US shale growth and OPEC's decision to defend market share sent prices down.
What is the highest Brent price adjusted for inflation?
By annual average in today's dollars, 2011 was the highest at about $166.25 per barrel (nominal average $110.99). The current year averages $90.15 nominal, or $91.42 in today's dollars.