Oil Prices in August 2003: WTI & Brent Daily Prices and Monthly Average
WTI averaged $31.57 per barrel in August 2003, up $0.81 (2.6%) from July 2003. A year earlier, in August 2002, it averaged $28.39, so the price was higher by $3.18 (11.2%) year over year.
Daily spot prices, August 2003
Chart data table (21 rows)
| Period | WTI | Brent |
|---|---|---|
| Aug 29, 2003 | $31.76 | $30.38 |
| Aug 28, 2003 | $31.41 | $30.10 |
| Aug 27, 2003 | $31.18 | $30.05 |
| Aug 26, 2003 | $32.01 | $30.08 |
| Aug 25, 2003 | $31.43 | $29.98 |
| Aug 22, 2003 | $31.64 | $30.22 |
| Aug 21, 2003 | $31.78 | $29.95 |
| Aug 20, 2003 | $30.96 | $29.28 |
| Aug 19, 2003 | $30.76 | $29.18 |
| Aug 18, 2003 | $30.81 | $29.88 |
| Aug 15, 2003 | $31.01 | $29.18 |
| Aug 14, 2003 | $30.85 | $28.96 |
| Aug 13, 2003 | $30.85 | $29.66 |
| Aug 12, 2003 | $31.91 | $30.13 |
| Aug 11, 2003 | $31.91 | $30.05 |
| Aug 8, 2003 | $32.23 | $30.59 |
| Aug 7, 2003 | $32.41 | $30.06 |
| Aug 6, 2003 | $31.77 | $30.01 |
| Aug 5, 2003 | $32.34 | $30.37 |
| Aug 4, 2003 | $31.80 | $29.91 |
| Aug 1, 2003 | $32.23 | $29.63 |
Prices peaked at $32.41 on Aug 7, 2003, then fell to $30.76 on Aug 19, 2003 and ended at $31.76. The largest one-day move was +$1.67 on Aug 1, 2003 (+5.5%).
Brent traded below WTI on average this month: $29.89 for the month, $1.69 under WTI across 21 matched dates.
Adjusted with CPI-U, the August 2003 average equals $57.62 in September 2026 dollars.
August 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $31.57 | $29.89 |
| Change vs July 2003 | +$0.81 | +$1.54 |
| Change vs August 2002 | +$3.18 | +$3.24 |
| Highest daily price | $32.41 Aug 7, 2003 | $30.59 Aug 8, 2003 |
| Lowest daily price | $30.76 Aug 19, 2003 | $28.96 Aug 14, 2003 |
| Published daily observations | 21 | 21 |
| Average in September 2026 dollars (CPI-U) | $57.62 | $54.56 |
Monthly averages are EIA's published figures. Real figures use CPI-U for August 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Aug 1, 2003 – Aug 29, 2003 | Aug 29, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Aug 1, 2003 – Aug 29, 2003 | Aug 29, 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)