Figure 13. Nominal energy prices, 1999–2019 and 2019–29 projected

Year

WTI crude oil (dollars per barrel) Brent crude oil (dollars per barrel) Natural gas (2005 Henry Hub—dollars per liter)

2012

$94.20 $111.77 $2.57

2013

97.94 108.74 3.37

2014

93.26 99.83 4.00

2015

48.69 52.68 2.31

2016

43.21 44.24 2.10

2017

50.96 54.83 2.60

2018

64.89 70.96 2.44

2019

56.98 64.34 1.87

2020 projected

53.16 58.26 1.74

2021 projected

60.67 64.62 1.90

2022 projected

64.14 68.73 1.91

2023 projected

67.16 72.06 1.93

2024 projected

70.95 75.55 2.01

2025 projected

74.46 79.25 2.17

2026 projected

78.11 82.99 2.34

2027 projected

81.77 86.55 2.46

2028 projected

84.91 90.53 2.53

2029 projected

88.75 94.65 2.54

Note: WTI = West Texas Intermediate.

Source: U.S. Energy Information Administration.