Oil Prices in January 2003: WTI & Brent Daily Prices and Monthly Average
WTI jumped in January 2003: the monthly average rose to $32.95, up $3.49 (11.8%) from December 2002, the highest monthly average in nominal terms since November 2000. The average was 67% above the $19.72 of January 2002.
Daily spot prices, January 2003
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| Jan 31, 2003 | $33.51 | $31.57 |
| Jan 30, 2003 | $33.78 | $31.42 |
| Jan 29, 2003 | $33.54 | $31.26 |
| Jan 28, 2003 | $32.70 | $30.73 |
| Jan 27, 2003 | $32.43 | $31.02 |
| Jan 24, 2003 | $34.98 | $31.62 |
| Jan 23, 2003 | $33.90 | $31.40 |
| Jan 22, 2003 | $34.32 | $32.07 |
| Jan 21, 2003 | $34.62 | $31.72 |
| Jan 20, 2003 | — | $32.23 |
| Jan 17, 2003 | $33.88 | $31.57 |
| Jan 16, 2003 | $33.58 | $32.29 |
| Jan 15, 2003 | $33.23 | $31.73 |
| Jan 14, 2003 | $32.42 | $31.36 |
| Jan 13, 2003 | $32.08 | $30.46 |
| Jan 10, 2003 | $31.59 | $30.07 |
| Jan 9, 2003 | $31.95 | $30.26 |
| Jan 8, 2003 | $30.66 | $29.30 |
| Jan 7, 2003 | $31.20 | $30.78 |
| Jan 6, 2003 | $32.29 | $31.43 |
| Jan 3, 2003 | $33.26 | $31.43 |
| Jan 2, 2003 | $31.97 | $30.32 |
Prices dipped to $30.66 on Jan 8, 2003, then climbed to $34.98 on Jan 24, 2003 and ended at $33.51. The largest one-day move was −$2.55 on Jan 27, 2003 (−7.3%).
Brent traded below WTI on average this month: $31.18 for the month, $1.81 under WTI across 21 matched dates.
Adjusted with CPI-U, the January 2003 average equals $61.10 in September 2026 dollars.
January 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $32.95 | $31.18 |
| Change vs December 2002 | +$3.49 | +$2.85 |
| Change vs January 2002 | +$13.23 | +$11.76 |
| Highest daily price | $34.98 Jan 24, 2003 | $32.29 Jan 16, 2003 |
| Lowest daily price | $30.66 Jan 8, 2003 | $29.30 Jan 8, 2003 |
| Published daily observations | 21 | 22 |
| Average in September 2026 dollars (CPI-U) | $61.10 | $57.82 |
Monthly averages are EIA's published figures. Real figures use CPI-U for January 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jan 2, 2003 – Jan 31, 2003 | Jan 31, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jan 2, 2003 – Jan 31, 2003 | Jan 31, 2003 |
| 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:2003 daily prices (CSV)