Azeri Light Oil price drops

The price of Azerbaijan’s Azeri Light crude oil decreased by $1.87, settling at $73.26 per barrel (CIF) at the Italian port of Augusta on October 18, Azernews reports, citing sources from the country’s oil and gas market.

The price of Azeri LT FOB Ceyhan also fell by $1.87 to $71.70 per barrel. Meanwhile, URALS crude dropped by $1.57 to $60.32 per barrel. Dated Brent oil from the North Sea declined by $1.53, reaching $72.55 per barrel.

The official exchange rate on October 19 is 1.7 AZN/1 USD.