Commodities
Azeri Light Surges to New High at Over $122 Per Barrel
Azerbaijan's Azeri Light crude oil has reached a new price high of $122.37 per barrel on the global market, according to a source in the oil market.
This represents a $1.29 increase or a 1.07% rise from the previous day's price.
The price of Brent crude oil for November futures also rose to $125.42 per barrel.
Azeri Light is produced in Azerbaijan as part of the development of the Azeri-Chirag-Gunashli (ACG) field block, with the State Oil Company of the Azerbaijan Republic (SOCAR) holding a 35.3% stake in the contract.