Oil Prices in January 2004: WTI & Brent Daily Prices and Monthly Average
WTI averaged $34.31 per barrel in January 2004, up $2.18 (6.8%) from December 2003. A year earlier, in January 2003, it averaged $32.95, so the price was higher by $1.36 (4.1%) year over year.
Daily spot prices, January 2004
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| Jan 30, 2004 | $33.16 | $29.53 |
| Jan 29, 2004 | $32.86 | $29.47 |
| Jan 28, 2004 | $33.63 | $30.77 |
| Jan 27, 2004 | $33.99 | $31.05 |
| Jan 26, 2004 | $34.41 | $31.15 |
| Jan 23, 2004 | $34.94 | $32.08 |
| Jan 22, 2004 | $35.12 | $31.42 |
| Jan 21, 2004 | $35.53 | $31.95 |
| Jan 20, 2004 | $36.21 | $32.26 |
| Jan 19, 2004 | — | $31.67 |
| Jan 16, 2004 | $35.16 | $31.26 |
| Jan 15, 2004 | $33.61 | $31.43 |
| Jan 14, 2004 | $34.62 | $31.84 |
| Jan 13, 2004 | $34.26 | $32.55 |
| Jan 12, 2004 | $34.92 | $31.41 |
| Jan 9, 2004 | $34.38 | $31.91 |
| Jan 8, 2004 | $34.27 | $31.11 |
| Jan 7, 2004 | $33.57 | $30.99 |
| Jan 6, 2004 | $33.54 | $31.20 |
| Jan 5, 2004 | $33.71 | $32.30 |
| Jan 2, 2004 | — | $29.55 |
Prices peaked at $36.21 on Jan 20, 2004, then fell to $32.86 on Jan 29, 2004 and ended at $33.16. The largest one-day move was +$1.55 on Jan 16, 2004 (+4.6%).
Brent traded below WTI on average this month: $31.28 for the month, $2.96 under WTI across 19 matched dates.
It was the lowest monthly average of 2004. Adjusted with CPI-U, the January 2004 average equals $62.42 in September 2026 dollars.
January 2004 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $34.31 | $31.28 |
| Change vs December 2003 | +$2.18 | +$1.47 |
| Change vs January 2003 | +$1.36 | +$0.10 |
| Highest daily price | $36.21 Jan 20, 2004 | $32.55 Jan 13, 2004 |
| Lowest daily price | $32.86 Jan 29, 2004 | $29.47 Jan 29, 2004 |
| Published daily observations | 19 | 21 |
| Average in September 2026 dollars (CPI-U) | $62.42 | $56.91 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 2004.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 5, 2004 – Jan 30, 2004 | Jan 30, 2004 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 2, 2004 – Jan 30, 2004 | Jan 30, 2004 |
| 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:2004 daily prices (CSV)