Oil Prices in May 2002: WTI & Brent Daily Prices and Monthly Average
WTI averaged $27.04 per barrel in May 2002, up $0.86 (3.3%) from April 2002. A year earlier, in May 2001, it averaged $28.63, so the price was lower by $1.59 (5.6%) year over year.
Daily spot prices, May 2002
Chart data table (23 rows)
| Period | WTI | Brent |
|---|---|---|
| May 31, 2002 | $25.37 | $23.87 |
| May 30, 2002 | $24.78 | $23.72 |
| May 29, 2002 | $25.64 | $24.18 |
| May 28, 2002 | $25.08 | $24.71 |
| May 27, 2002 | — | $23.52 |
| May 24, 2002 | $26.69 | $23.76 |
| May 23, 2002 | $26.60 | $24.01 |
| May 22, 2002 | $27.01 | $24.32 |
| May 21, 2002 | $27.35 | $24.99 |
| May 20, 2002 | $28.24 | $25.97 |
| May 17, 2002 | $28.19 | $25.45 |
| May 16, 2002 | $28.00 | $25.71 |
| May 15, 2002 | $28.17 | $27.17 |
| May 14, 2002 | $29.17 | $27.12 |
| May 13, 2002 | $28.62 | $26.30 |
| May 10, 2002 | $27.92 | $26.89 |
| May 9, 2002 | $27.78 | $26.09 |
| May 8, 2002 | $27.76 | $26.09 |
| May 7, 2002 | $26.79 | $25.53 |
| May 6, 2002 | $26.11 | — |
| May 3, 2002 | $26.75 | $25.80 |
| May 2, 2002 | $26.31 | $25.73 |
| May 1, 2002 | $26.58 | $26.67 |
Prices peaked at $29.17 on May 14, 2002, then fell to $24.78 on May 30, 2002 and ended at $25.37. The largest one-day move was −$1.61 on May 28, 2002 (−6.0%).
Brent traded below WTI on average this month: $25.35 for the month, $1.65 under WTI across 21 matched dates.
Adjusted with CPI-U, the May 2002 average equals $50.67 in September 2026 dollars.
May 2002 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $27.04 | $25.35 |
| Change vs April 2002 | +$0.86 | −$0.38 |
| Change vs May 2001 | −$1.59 | −$2.96 |
| Highest daily price | $29.17 May 14, 2002 | $27.17 May 15, 2002 |
| Lowest daily price | $24.78 May 30, 2002 | $23.52 May 27, 2002 |
| Published daily observations | 22 | 22 |
| Average in September 2026 dollars (CPI-U) | $50.67 | $47.51 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 2002.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 1, 2002 – May 31, 2002 | May 31, 2002 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 1, 2002 – May 31, 2002 | May 31, 2002 |
| 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:2002 daily prices (CSV)