Azerbaijani oil price exceeds amid global market surge

Oil prices have risen on global markets, with Azerbaijani oil following suit.

According to Azernews, the price of one barrel of "Azeri Light" brand oil increased by $2.5 or 3.32 percent, reaching $77.69. This is part of a broader trend of rising oil prices.

On the London InterContinental Exchange (ICE), the price of Brent crude oil rose by $1.16, bringing it to $74.72 per barrel. Meanwhile, on the New York Mercantile Exchange (NYMEX), the price of a barrel of Light crude oil climbed by $1.22, amounting to $71.05.

It is noteworthy that the lowest price for "Azeri Light" oil was recorded on April 21, 2020, at $15.81, while its maximum price was $149.66 in July 2008.