Weekly overview of Azerbaijani oil prices

This week, the average prices for Dated Brent, Azeri LT CIF, Azeri Light FOB Ceyhan, and Urals (EX NOVO) crude oils experienced declines, Azernews reports.

The Azeri Light crude oil, delivered on a CIF basis from Azerbaijan’s Azeri-Chirag-Gunashli field, saw a drop of $5.31 (7.2%) from the previous week, settling at $74.18 per barrel. The highest recorded price was $80.08 per barrel, while the lowest was $72.12.

Similarly, the FOB price of Azeri Light at Turkiye’s Ceyhan port ended the week at $72.87 per barrel, a decrease of $5.26 (7.2%) compared to last week. Its peak price reached $78.72, and the lowest was $70.8.

Urals crude oil prices declined by $5.71 (9.8%), averaging $58.1 per barrel this week. The highest price was $64.27 per barrel, and the lowest was $55.97.

Meanwhile, Dated Brent benchmark crude increased by $6.36 (8.9%), reaching an average of $71 per barrel. The highest price for Dated Brent was $77.66, and the lowest was $69.12.