Oil Prices in March 2003: WTI & Brent Daily Prices and Monthly Average
WTI averaged $33.51 per barrel in March 2003, down $2.32 (6.5%) from February 2003. The average was 37% above the $24.53 of March 2002.
Daily spot prices, March 2003
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| Mar 31, 2003 | $31.14 | $28.05 |
| Mar 28, 2003 | $30.21 | $27.66 |
| Mar 27, 2003 | $30.31 | $27.29 |
| Mar 26, 2003 | $28.71 | $25.98 |
| Mar 25, 2003 | $33.42 | $27.28 |
| Mar 24, 2003 | $29.51 | $26.54 |
| Mar 21, 2003 | $27.18 | $25.59 |
| Mar 20, 2003 | $28.62 | $28.00 |
| Mar 19, 2003 | $30.01 | $28.40 |
| Mar 18, 2003 | $31.55 | $28.55 |
| Mar 17, 2003 | $34.92 | $30.35 |
| Mar 14, 2003 | $35.41 | $31.48 |
| Mar 13, 2003 | $36.05 | $33.98 |
| Mar 12, 2003 | $37.87 | $34.16 |
| Mar 11, 2003 | $36.81 | $34.06 |
| Mar 10, 2003 | $37.18 | $34.94 |
| Mar 7, 2003 | $37.76 | $34.47 |
| Mar 6, 2003 | $37.21 | $34.39 |
| Mar 5, 2003 | $36.86 | $33.92 |
| Mar 4, 2003 | $36.95 | $34.37 |
| Mar 3, 2003 | $36.10 | $33.40 |
Prices peaked at $37.87 on Mar 12, 2003, then fell to $27.18 on Mar 21, 2003 and ended at $31.14. The largest one-day move was −$4.71 on Mar 26, 2003 (−14.1%).
Brent traded below WTI on average this month: $30.61 for the month, $2.90 under WTI across 21 matched dates.
It was the second-highest monthly average of 2003. Adjusted with CPI-U, the March 2003 average equals $61.30 in September 2026 dollars.
March 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $33.51 | $30.61 |
| Change vs February 2003 | −$2.32 | −$2.16 |
| Change vs March 2002 | +$8.98 | +$6.91 |
| Highest daily price | $37.87 Mar 12, 2003 | $34.94 Mar 10, 2003 |
| Lowest daily price | $27.18 Mar 21, 2003 | $25.59 Mar 21, 2003 |
| Published daily observations | 21 | 21 |
| Average in September 2026 dollars (CPI-U) | $61.30 | $55.99 |
Monthly averages are EIA's published figures. Real figures use CPI-U for March 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Mar 3, 2003 – Mar 31, 2003 | Mar 31, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Mar 3, 2003 – Mar 31, 2003 | Mar 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)