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Oil Prices in 2002: WTI & Brent History and Monthly Averages

WTI average
$26.18
EIA annual average
WTI vs prior year
+0.8%
2001: $25.98
Brent average
$24.99
EIA annual average
Brent vs prior year
+2.2%
2001: $24.46

WTI averaged $26.18 per barrel in 2002, up $0.20 (0.8%) from 2001; that was the highest annual average since 2000.

Monthly average prices in 2002

Monthly averages and daily ranges, 2002 ($/bbl)
MonthWTI avgWTI highWTI lowBrent avgBrent − WTI (matched dates)WTI (September 2026 $)Brent (September 2026 $)
January$19.72$21.47$18.02$19.42−$0.25$37.52$36.95
February$20.72$21.78$19.75$20.28−$0.44$39.27$38.43
March$24.53$26.21$22.37$23.70−$0.92$46.23$44.66
April$26.18$27.75$23.51$25.73−$0.45$49.06$48.22
May$27.04$29.17$24.78$25.35−$1.65$50.67$47.51
June$25.52$26.79$24.21$24.08−$1.47$47.80$45.10
July$26.97$27.88$26.14$25.74−$1.22$50.46$48.16
August$28.39$30.37$26.51$26.65−$1.73$52.94$49.69
September$29.66$30.85$27.76$28.40−$1.22$55.21$52.87
October$28.84$30.71$26.81$27.54−$1.29$53.60$51.18
November$26.35$27.73$25.28$24.34−$2.16$48.97$45.24
December$29.46$32.68$26.80$28.33−$0.97$54.87$52.77

Monthly averages are EIA's published figures. Brent − WTI is the average over dates with both prices published, so it can differ from the difference between the two monthly averages. Inflation-adjusted columns use CPI-U for each month, expressed in September 2026 dollars; “—” means CPI-U for that month is not available.

From $18.02 on Jan 18, 2002, WTI climbed to $32.68 by Dec 27, 2002, an 81% gain. The price finished the year 48% above its first 2002 close of $21.13. The steepest fall within the year ran from $30.85 on Sep 23, 2002 to $25.28 on Nov 13, 2002, an 18% drop. Second-half prices averaged $28.31, up from $24.03 in the first half.

Brent traded below WTI throughout 2002: its monthly average was lower in every month, and on the 246 matched dates it averaged $1.14 less. Brent averaged $24.99, up $0.53 (2.2%) from 2001.

The monthly average was lowest in January ($19.72) and highest in September ($29.66). In September 2026 dollars (CPI-U), the 2002 average is $49.03, lower than 2025's real average by $19.40 (28.4%). The 2000s as a whole averaged $51.10, so 2002 ran below its decade. Of 40 complete years with an EIA annual average, 2002 ranks 16th lowest.

2002 summary statistics

MeasureWTIBrentBrent − WTI
Average$26.18$24.99−$1.14
Change vs 2001 average+$0.20+$0.53+$0.38
Highest daily price$32.68 Dec 27, 2002$32.02 Dec 30, 2002—
Lowest daily price$18.02 Jan 18, 2002$18.17 Jan 18, 2002—
Highest daily spread——+$0.99 Feb 12, 2002
Lowest daily spread——−$3.30 Nov 18, 2002
First observation$21.13 Jan 2, 2002$20.13 Jan 2, 2002—
Last observation$31.21 Dec 31, 2002$30.12 Dec 31, 2002—
Published daily observations250255246 matched
Average in September 2026 dollars$49.03$46.80—

Daily spot prices in 2002

Show all 259 dates (Jan 2, 2002 – Dec 31, 2002)
DateWTIBrentBrent − WTI
Jan 2, 2002$21.13$20.13−$1.00
Jan 3, 2002$20.65$20.47−$0.18
Jan 4, 2002$21.47$21.20−$0.27
Jan 7, 2002$21.42$21.08−$0.34
Jan 8, 2002$20.82$21.03+$0.21
Jan 9, 2002$20.32$20.21−$0.11
Jan 10, 2002$20.48$19.71−$0.77
Jan 11, 2002$19.67$20.08+$0.41
Jan 14, 2002$18.88$18.89+$0.01
Jan 15, 2002$18.99$18.86−$0.13
Jan 16, 2002$18.96$18.50−$0.46
Jan 17, 2002$18.20$18.20$0.00
Jan 18, 2002$18.02$18.17+$0.15
Jan 21, 2002—$18.32—
Jan 22, 2002$18.36$18.70+$0.34
Jan 23, 2002$19.10$18.89−$0.21
Jan 24, 2002$19.57$18.91−$0.66
Jan 25, 2002$19.80$19.04−$0.76
Jan 28, 2002$20.05$19.74−$0.31
Jan 29, 2002$19.30$19.26−$0.04
Jan 30, 2002$19.11$18.71−$0.40
Jan 31, 2002$19.71$19.07−$0.64
Feb 1, 2002$20.40$19.70−$0.70
Feb 4, 2002$20.02$20.26+$0.24
Feb 5, 2002$20.06$19.90−$0.16
Feb 6, 2002$19.77$19.97+$0.20
Feb 7, 2002$19.75$19.42−$0.33
Feb 8, 2002$20.25$20.01−$0.24
Feb 11, 2002$21.29$20.08−$1.21
Feb 12, 2002$20.76$21.75+$0.99
Feb 13, 2002$21.19$21.41+$0.22
Feb 14, 2002$21.19$20.97−$0.22
Feb 15, 2002$21.47$20.76−$0.71
Feb 18, 2002—$20.12—
Feb 19, 2002$20.77$20.18−$0.59
Feb 20, 2002$20.31$19.44−$0.87
Feb 21, 2002$20.81$20.21−$0.60
Feb 22, 2002$20.92$20.14−$0.78
Feb 25, 2002$20.24$19.78−$0.46
Feb 26, 2002$21.37$19.95−$1.42
Feb 27, 2002$21.40$20.73−$0.67
Feb 28, 2002$21.78$20.73−$1.05
Mar 1, 2002$22.37$21.83−$0.54
Mar 4, 2002$22.55$21.59−$0.96
Mar 5, 2002$23.18$22.25−$0.93
Mar 6, 2002$23.32$22.11−$1.21
Mar 7, 2002$23.62$23.10−$0.52
Mar 8, 2002$23.87$22.32−$1.55
Mar 11, 2002$24.36$23.14−$1.22
Mar 12, 2002$24.55$22.70−$1.85
Mar 13, 2002$24.14$23.60−$0.54
Mar 14, 2002$24.48$23.76−$0.72
Mar 15, 2002$24.47$23.90−$0.57
Mar 18, 2002$25.03$23.80−$1.23
Mar 19, 2002$25.02$24.51−$0.51
Mar 20, 2002$24.92$24.78−$0.14
Mar 21, 2002$25.74$24.25−$1.49
Mar 22, 2002$25.56$24.83−$0.73
Mar 25, 2002$25.69$24.75−$0.94
Mar 26, 2002$25.75$24.60−$1.15
Mar 27, 2002$25.79$25.13−$0.66
Mar 28, 2002$26.21$25.34−$0.87
Mar 29, 2002—$25.34—
Apr 1, 2002$26.82$26.06−$0.76
Apr 2, 2002$27.75$26.97−$0.78
Apr 3, 2002$27.55$26.72−$0.83
Apr 4, 2002$26.64$26.97+$0.33
Apr 5, 2002$26.21$25.39−$0.82
Apr 8, 2002$26.16$26.36+$0.20
Apr 9, 2002$25.45$25.48+$0.03
Apr 10, 2002$26.15$25.13−$1.02
Apr 11, 2002$24.93$24.22−$0.71
Apr 12, 2002$23.51$23.25−$0.26
Apr 15, 2002$24.53$23.39−$1.14
Apr 16, 2002$24.92$24.03−$0.89
Apr 17, 2002$25.94$25.26−$0.68
Apr 18, 2002$25.86$25.90+$0.04
Apr 19, 2002$26.43$25.86−$0.57
Apr 22, 2002$26.28$25.96−$0.32
Apr 23, 2002$26.28$26.26−$0.02
Apr 24, 2002$26.28$26.20−$0.08
Apr 25, 2002$26.36$26.47+$0.11
Apr 26, 2002$27.12$26.32−$0.80
Apr 29, 2002$27.45$26.85−$0.60
Apr 30, 2002$27.32$26.98−$0.34
May 1, 2002$26.58$26.67+$0.09
May 2, 2002$26.31$25.73−$0.58
May 3, 2002$26.75$25.80−$0.95
May 6, 2002$26.11——
May 7, 2002$26.79$25.53−$1.26
May 8, 2002$27.76$26.09−$1.67
May 9, 2002$27.78$26.09−$1.69
May 10, 2002$27.92$26.89−$1.03
May 13, 2002$28.62$26.30−$2.32
May 14, 2002$29.17$27.12−$2.05
May 15, 2002$28.17$27.17−$1.00
May 16, 2002$28.00$25.71−$2.29
May 17, 2002$28.19$25.45−$2.74
May 20, 2002$28.24$25.97−$2.27
May 21, 2002$27.35$24.99−$2.36
May 22, 2002$27.01$24.32−$2.69
May 23, 2002$26.60$24.01−$2.59
May 24, 2002$26.69$23.76−$2.93
May 27, 2002—$23.52—
May 28, 2002$25.08$24.71−$0.37
May 29, 2002$25.64$24.18−$1.46
May 30, 2002$24.78$23.72−$1.06
May 31, 2002$25.37$23.87−$1.50
Jun 3, 2002$25.10——
Jun 4, 2002$25.32——
Jun 5, 2002$25.02$23.19−$1.83
Jun 6, 2002$24.89$22.79−$2.10
Jun 7, 2002$24.72$22.99−$1.73
Jun 10, 2002$24.24$22.83−$1.41
Jun 11, 2002$24.21$22.37−$1.84
Jun 12, 2002$24.79$23.09−$1.70
Jun 13, 2002$25.54$23.72−$1.82
Jun 14, 2002$25.90$23.97−$1.93
Jun 17, 2002$25.98$24.69−$1.29
Jun 18, 2002$25.36$24.64−$0.72
Jun 19, 2002$25.57$24.85−$0.72
Jun 20, 2002$25.62$24.42−$1.20
Jun 21, 2002$25.51$24.14−$1.37
Jun 24, 2002$26.31$24.99−$1.32
Jun 25, 2002$26.06$25.32−$0.74
Jun 26, 2002$26.67$24.75−$1.92
Jun 27, 2002$26.77$25.39−$1.38
Jun 28, 2002$26.79$25.33−$1.46
Jul 1, 2002$26.79$25.65−$1.14
Jul 2, 2002$26.83$25.64−$1.19
Jul 3, 2002$26.82$25.59−$1.23
Jul 4, 2002—$25.51—
Jul 5, 2002—$25.75—
Jul 8, 2002$26.14$25.08−$1.06
Jul 9, 2002$26.16$24.90−$1.26
Jul 10, 2002$26.73$25.82−$0.91
Jul 11, 2002$27.01$25.83−$1.18
Jul 12, 2002$27.48$26.11−$1.37
Jul 15, 2002$27.23$26.16−$1.07
Jul 16, 2002$27.68$25.94−$1.74
Jul 17, 2002$27.88$26.19−$1.69
Jul 18, 2002$27.50$26.72−$0.78
Jul 19, 2002$27.83$26.37−$1.46
Jul 22, 2002$26.61$25.70−$0.91
Jul 23, 2002$26.61$25.65−$0.96
Jul 24, 2002$26.78$25.43−$1.35
Jul 25, 2002$26.67$25.36−$1.31
Jul 26, 2002$26.55$25.10−$1.45
Jul 29, 2002$26.54$25.20−$1.34
Jul 30, 2002$27.43$25.95−$1.48
Jul 31, 2002$27.02$26.28−$0.74
Aug 1, 2002$26.51$25.79−$0.72
Aug 2, 2002$26.87$25.17−$1.70
Aug 5, 2002$26.55$25.20−$1.35
Aug 6, 2002$27.18$25.69−$1.49
Aug 7, 2002$26.58$25.70−$0.88
Aug 8, 2002$26.67$25.51−$1.16
Aug 9, 2002$26.87$25.49−$1.38
Aug 12, 2002$27.84$25.63−$2.21
Aug 13, 2002$28.35$26.11−$2.24
Aug 14, 2002$28.19$26.47−$1.72
Aug 15, 2002$28.99$26.66−$2.33
Aug 16, 2002$29.24$27.33−$1.91
Aug 19, 2002$29.86$27.44−$2.42
Aug 20, 2002$30.12$27.63−$2.49
Aug 21, 2002$30.37$27.53−$2.84
Aug 22, 2002$30.11$27.81−$2.30
Aug 23, 2002$29.99$27.51−$2.48
Aug 26, 2002$29.23$27.56−$1.67
Aug 27, 2002$28.84$27.89−$0.95
Aug 28, 2002$28.31$27.54−$0.77
Aug 29, 2002$28.83$27.11−$1.72
Aug 30, 2002$28.97$27.56−$1.41
Sep 2, 2002—$27.45—
Sep 3, 2002$27.76$26.58−$1.18
Sep 4, 2002$28.28$27.31−$0.97
Sep 5, 2002$29.06$27.54−$1.52
Sep 6, 2002$29.51$28.36−$1.15
Sep 9, 2002$29.80$28.67−$1.13
Sep 10, 2002$29.62$28.92−$0.70
Sep 11, 2002$29.77$28.68−$1.09
Sep 12, 2002$28.95$27.76−$1.19
Sep 13, 2002$29.83$28.53−$1.30
Sep 16, 2002$29.14$28.38−$0.76
Sep 17, 2002$29.08$27.76−$1.32
Sep 18, 2002$29.57$28.41−$1.16
Sep 19, 2002$29.49$28.45−$1.04
Sep 20, 2002$29.65$28.61−$1.04
Sep 23, 2002$30.85$29.36−$1.49
Sep 24, 2002$30.79$29.47−$1.32
Sep 25, 2002$30.69$29.11−$1.58
Sep 26, 2002$30.31$28.93−$1.38
Sep 27, 2002$30.53$29.00−$1.53
Sep 30, 2002$30.59$29.11−$1.48
Oct 1, 2002$30.71$29.42−$1.29
Oct 2, 2002$30.59$29.14−$1.45
Oct 3, 2002$29.73$28.46−$1.27
Oct 4, 2002$29.65$28.32−$1.33
Oct 7, 2002$29.65$28.38−$1.27
Oct 8, 2002$29.56$28.28−$1.28
Oct 9, 2002$29.31$28.29−$1.02
Oct 10, 2002$28.96$27.70−$1.26
Oct 11, 2002$29.36$28.18−$1.18
Oct 14, 2002$30.06$28.56−$1.50
Oct 15, 2002$29.73$28.66−$1.07
Oct 16, 2002$29.28$28.61−$0.67
Oct 17, 2002$29.61$28.22−$1.39
Oct 18, 2002$29.56$28.20−$1.36
Oct 21, 2002$28.31$27.01−$1.30
Oct 22, 2002$27.93$26.69−$1.24
Oct 23, 2002$28.19$26.68−$1.51
Oct 24, 2002$27.87$26.78−$1.09
Oct 25, 2002$27.09$25.96−$1.13
Oct 28, 2002$27.25$25.44−$1.81
Oct 29, 2002$26.81$25.71−$1.10
Oct 30, 2002$26.85$25.29−$1.56
Oct 31, 2002$27.18$25.51−$1.67
Nov 1, 2002$27.04$25.78−$1.26
Nov 4, 2002$26.89$25.21−$1.68
Nov 5, 2002$26.06$24.66−$1.40
Nov 6, 2002$25.72$23.73−$1.99
Nov 7, 2002$25.36$24.36−$1.00
Nov 8, 2002$25.83$23.54−$2.29
Nov 11, 2002$26.02$23.86−$2.16
Nov 12, 2002$26.19$24.01−$2.18
Nov 13, 2002$25.28$22.96−$2.32
Nov 14, 2002$25.40$22.82−$2.58
Nov 15, 2002$25.50$23.33−$2.17
Nov 18, 2002$26.71$23.41−$3.30
Nov 19, 2002$26.41$24.05−$2.36
Nov 20, 2002$27.00$24.05−$2.95
Nov 21, 2002$27.07$24.52−$2.55
Nov 22, 2002$27.73$24.79−$2.94
Nov 25, 2002$27.01$24.85−$2.16
Nov 26, 2002$26.60$24.56−$2.04
Nov 27, 2002$26.87$25.11−$1.76
Nov 28, 2002—$25.70—
Nov 29, 2002—$25.74—
Dec 2, 2002$27.27$25.73−$1.54
Dec 3, 2002$27.34$26.09−$1.25
Dec 4, 2002$26.80$25.99−$0.81
Dec 5, 2002$27.27$26.07−$1.20
Dec 6, 2002$27.03$25.67−$1.36
Dec 9, 2002$27.29$26.06−$1.23
Dec 10, 2002$27.73$26.35−$1.38
Dec 11, 2002$27.49$26.85−$0.64
Dec 12, 2002$28.20$27.29−$0.91
Dec 13, 2002$28.39$27.64−$0.75
Dec 16, 2002$30.15$28.73−$1.42
Dec 17, 2002$30.04$29.25−$0.79
Dec 18, 2002$30.41$29.95−$0.46
Dec 19, 2002$30.57$30.26−$0.31
Dec 20, 2002$30.57$29.59−$0.98
Dec 23, 2002$32.09$30.61−$1.48
Dec 24, 2002$32.13$30.93−$1.20
Dec 26, 2002$32.61——
Dec 27, 2002$32.68$31.49−$1.19
Dec 30, 2002$31.41$32.02+$0.61
Dec 31, 2002$31.21$30.12−$1.09

“—” means EIA published no price for that benchmark on that date.

Source and methodology

ProviderSeriesUnitsCoverageLatest observation
U.S. Energy Information AdministrationRWTC — WTI spot price FOB$/bblJan 2, 2002 – Dec 31, 2002Dec 31, 2002
U.S. Energy Information AdministrationRBRTE — Brent spot price FOB$/bblJan 2, 2002 – Dec 31, 2002Dec 31, 2002
U.S. Bureau of Labor StatisticsCUUR0000SA0 — CPI-U, all items, NSAindex, 1982–84=100monthly and annual averageSeptember 2026

Inflation adjustment: real = nominal × CPI-U(September 2026) ÷ CPI-U(period). Annual figures use the BLS annual average CPI-U; a year without one uses the mean of the months published so far.

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)