Oil prices show rise in global market

Oil prices have increased in global markets, though Azerbaijani oil has seen a slight decrease, Azernews reports.

The price of a barrel of "Brent" crude on London's InterContinental Exchange (ICE) rose by $0.29, reaching $73.94. Meanwhile, the price of a barrel of "Light" oil on the New York Mercantile Exchange (NYMEX) increased by $0.18, settling at $71.09.

In contrast, the price of Azerbaijan's "Azeri Light" oil dropped by $0.04, or 0.05 percent, to $76.97. It’s worth noting that the lowest price of "Azeri Light" oil was recorded on April 21, 2020, at $15.81 per barrel, while the maximum price reached $149.66 in July 2008.