Oil Prices in July 2003: WTI & Brent Daily Prices and Monthly Average
WTI averaged $30.76 per barrel in July 2003, little changed from June 2003 ($30.66). A year earlier, in July 2002, it averaged $26.97, so the price was higher by $3.79 (14.1%) year over year.
Daily spot prices, July 2003
Chart data table (23 rows)
| Period | WTI | Brent |
|---|---|---|
| Jul 31, 2003 | $30.56 | $28.68 |
| Jul 30, 2003 | $30.69 | $28.31 |
| Jul 29, 2003 | $30.21 | $28.27 |
| Jul 28, 2003 | $29.98 | $27.71 |
| Jul 25, 2003 | $30.31 | $28.30 |
| Jul 24, 2003 | $30.72 | $27.73 |
| Jul 23, 2003 | $30.13 | $27.67 |
| Jul 22, 2003 | $30.20 | $28.40 |
| Jul 21, 2003 | $31.67 | $28.01 |
| Jul 18, 2003 | $31.96 | $29.20 |
| Jul 17, 2003 | $31.44 | $28.59 |
| Jul 16, 2003 | $31.20 | $28.51 |
| Jul 15, 2003 | $31.60 | $28.87 |
| Jul 14, 2003 | $31.20 | $28.52 |
| Jul 11, 2003 | $31.33 | $29.36 |
| Jul 10, 2003 | $31.04 | $29.37 |
| Jul 9, 2003 | $30.87 | $28.21 |
| Jul 8, 2003 | $30.32 | $27.95 |
| Jul 7, 2003 | $30.08 | $27.23 |
| Jul 4, 2003 | — | $27.97 |
| Jul 3, 2003 | $30.39 | $28.63 |
| Jul 2, 2003 | $30.29 | $28.20 |
| Jul 1, 2003 | $30.41 | $28.33 |
Prices peaked at $31.96 on Jul 18, 2003, then fell to $29.98 on Jul 28, 2003 and ended at $30.56. The largest one-day move was −$1.47 on Jul 22, 2003 (−4.6%).
Brent traded below WTI on average this month: $28.35 for the month, $2.39 under WTI across 22 matched dates.
Adjusted with CPI-U, the July 2003 average equals $56.36 in September 2026 dollars.
July 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $30.76 | $28.35 |
| Change vs June 2003 | +$0.10 | +$0.70 |
| Change vs July 2002 | +$3.79 | +$2.61 |
| Highest daily price | $31.96 Jul 18, 2003 | $29.37 Jul 10, 2003 |
| Lowest daily price | $29.98 Jul 28, 2003 | $27.23 Jul 7, 2003 |
| Published daily observations | 22 | 23 |
| Average in September 2026 dollars (CPI-U) | $56.36 | $51.94 |
Monthly averages are EIA's published figures. Real figures use CPI-U for July 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Jul 1, 2003 – Jul 31, 2003 | Jul 31, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Jul 1, 2003 – Jul 31, 2003 | Jul 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)