Oil Prices in February 2003: WTI & Brent Daily Prices and Monthly Average
At $35.83 per barrel, February 2003's WTI average was the highest monthly average in nominal terms since October 1990, up $2.88 (8.7%) from January 2003. The average was 73% above the $20.72 of February 2002.
Daily spot prices, February 2003
Chart data table (20 rows)
| Period | WTI | Brent |
|---|---|---|
| Feb 28, 2003 | $36.76 | $34.00 |
| Feb 27, 2003 | $36.83 | $34.09 |
| Feb 26, 2003 | $37.96 | $33.46 |
| Feb 25, 2003 | $36.06 | $33.64 |
| Feb 24, 2003 | $37.29 | $33.41 |
| Feb 21, 2003 | $36.76 | $32.76 |
| Feb 20, 2003 | $36.45 | $32.76 |
| Feb 19, 2003 | $37.02 | $33.16 |
| Feb 18, 2003 | $36.88 | $33.26 |
| Feb 17, 2003 | — | $33.06 |
| Feb 14, 2003 | $36.61 | $33.26 |
| Feb 13, 2003 | $36.63 | $33.23 |
| Feb 12, 2003 | $35.83 | $32.46 |
| Feb 11, 2003 | $35.43 | $32.51 |
| Feb 10, 2003 | $34.46 | $32.47 |
| Feb 7, 2003 | $35.05 | $32.23 |
| Feb 6, 2003 | $34.36 | $31.81 |
| Feb 5, 2003 | $33.91 | $31.77 |
| Feb 4, 2003 | $33.61 | $31.13 |
| Feb 3, 2003 | $32.84 | $30.95 |
Prices rose over the month, from $32.84 on Feb 3, 2003 to $36.76 on Feb 28, 2003, with gains on 12 of 19 trading days. The largest one-day move was +$1.90 on Feb 26, 2003 (+5.3%).
Brent traded below WTI on average this month: $32.77 for the month, $3.07 under WTI across 19 matched dates.
It was the highest monthly average of 2003. Adjusted with CPI-U, the February 2003 average equals $65.93 in September 2026 dollars.
February 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $35.83 | $32.77 |
| Change vs January 2003 | +$2.88 | +$1.59 |
| Change vs February 2002 | +$15.11 | +$12.49 |
| Highest daily price | $37.96 Feb 26, 2003 | $34.09 Feb 27, 2003 |
| Lowest daily price | $32.84 Feb 3, 2003 | $30.95 Feb 3, 2003 |
| Published daily observations | 19 | 20 |
| Average in September 2026 dollars (CPI-U) | $65.93 | $60.30 |
Monthly averages are EIA's published figures. Real figures use CPI-U for February 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Feb 3, 2003 – Feb 28, 2003 | Feb 28, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Feb 3, 2003 – Feb 28, 2003 | Feb 28, 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)