Price of Azerbaijani oil drops

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.02, or 0.03%, to $89.82 per barrel, Azernews reports.

September futures for Brent crude were traded at $85.59 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $75 per barrel.

The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008.

Oil has become more expensive in the world markets.

The price of a barrel of "Brent" oil on London's ICE ("InterContinental Exchange Futures") exchange increased by $0.17 to $85.57.

The price of one barrel of "Light" oil on the New York NYMEX ("New York Mercantile Exchange") increased by $0.29 to $82.91.