Crude Oil Prices Drop in Azerbaijan Amid Global Market Volatility

The average prices of Azeri Light CIF and other crude oil grades in Azerbaijan decreased last week, according to data from the oil market source. The price of Azeri Light CIF crude dropped by $2.28 per barrel, or 2.4%, compared to the previous week.

On a FOB basis at the Turkish port of Ceyhan, the average price was $89.39 per barrel, down from $91.62 during the week. The maximum price for Azeri Light CIF crude oil was $95.13 per barrel, and the minimum was $91.51.

The price of Urals crude fell by $1.78, or 2.6%, to stand at $65.70 per barrel. Dated Brent crude oil prices also decreased, averaging $89.80 per barrel, down from $92.60 during the week.