Commodities
Azeri Light Oil Prices Fall Amid Calls for Peace Agreement
The price of Azeri Light crude oil has declined by $2.48 per barrel on a CIF basis at Italy's Augusta port, according to a source in the oil market.
This drop represents a 1.97% decrease from the previous level, bringing the price down to $123.46 per barrel.
The price of Azeri Light crude also fell by $2.45, or 2.05%, on an FOB basis at Türkiye's Ceyhan port to $116.81 per barrel.
Iran's call for the United States to return to a temporary peace agreement has been attributed as one reason for the decline in oil prices.