Oil Prices in May 2003: WTI & Brent Daily Prices and Monthly Average
WTI averaged $28.11 per barrel in May 2003, little changed from April 2003 ($28.17). A year earlier, in May 2002, it averaged $27.04, so the price was higher by $1.07 (4.0%) year over year.
Daily spot prices, May 2003
Chart data table (22 rows)
| Period | WTI | Brent |
|---|---|---|
| May 30, 2003 | $29.56 | $26.58 |
| May 29, 2003 | $29.15 | $26.39 |
| May 28, 2003 | $28.46 | $26.48 |
| May 27, 2003 | $29.24 | $26.55 |
| May 26, 2003 | — | $26.78 |
| May 23, 2003 | $29.74 | $27.14 |
| May 22, 2003 | $29.09 | $27.32 |
| May 21, 2003 | $29.51 | $27.58 |
| May 20, 2003 | $29.29 | $26.69 |
| May 19, 2003 | $28.84 | $27.23 |
| May 16, 2003 | $29.07 | $27.18 |
| May 15, 2003 | $28.57 | $26.77 |
| May 14, 2003 | $29.21 | $25.98 |
| May 13, 2003 | $28.51 | $25.45 |
| May 12, 2003 | $27.34 | $25.69 |
| May 9, 2003 | $27.65 | $25.55 |
| May 8, 2003 | $26.94 | $24.48 |
| May 7, 2003 | $26.24 | $24.01 |
| May 6, 2003 | $25.65 | $23.91 |
| May 5, 2003 | $26.43 | $23.59 |
| May 2, 2003 | $25.74 | $23.73 |
| May 1, 2003 | $26.05 | $23.79 |
Prices rose over the month, from $26.05 on May 1, 2003 to $29.56 on May 30, 2003. The largest one-day move was +$1.17 on May 13, 2003 (+4.3%).
Brent traded below WTI on average this month: $25.86 for the month, $2.29 under WTI across 21 matched dates.
It was the lowest monthly average of 2003. Adjusted with CPI-U, the May 2003 average equals $51.62 in September 2026 dollars.
May 2003 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $28.11 | $25.86 |
| Change vs April 2003 | −$0.06 | +$0.86 |
| Change vs May 2002 | +$1.07 | +$0.51 |
| Highest daily price | $29.74 May 23, 2003 | $27.58 May 21, 2003 |
| Lowest daily price | $25.65 May 6, 2003 | $23.59 May 5, 2003 |
| Published daily observations | 21 | 22 |
| Average in September 2026 dollars (CPI-U) | $51.62 | $47.48 |
Monthly averages are EIA's published figures. Real figures use CPI-U for May 2003.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | May 1, 2003 – May 30, 2003 | May 30, 2003 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | May 1, 2003 – May 30, 2003 | May 30, 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)