Azerbaijan Oil Prices Soar by Up to 12.4% Last Week

The prices of several key oil grades increased in Azerbaijan last week, according to data from oil market participants.

Azeri Light (CIF) crude, produced at the 'Azeri-Chirag-Gunashli' field, saw its average price rise by $10.51, or 9.2%, compared to the previous week, reaching $124.18 per barrel.

The highest price for Azeri Light (CIF) during the week was $128.03, while the lowest was $121.08.

At the Turkish port of Ceyhan, the average FOB price of Azeri Light crude rose to $118.52 per barrel, a 7.9% increase from the previous week's figure.

The highest price at Ceyhan reached $122.45 per barrel, while the lowest was $115.50.