Weekly review: Azeri Light crude sees price increase

This week, the average prices of Azeri LT CIF, Azeri Light FOB Ceyhan, and Dated Brent crude oil increased, while the average price of Urals (EX NOVO) crude oil saw a decline, Azernews reports.

The average price of Azeri Light crude oil, based on CIF from Azerbaijan's Azeri-Chirag-Gunashli field, rose by $0.1 (0.13%) from the previous week, reaching $77.69 per barrel. During this period, the maximum price peaked at $78.89 per barrel, while the lowest stood at $76.80 per barrel.

For this week, the average FOB price for Azeri Light crude at the Turkish port of Ceyhan was $76.31 per barrel, an increase of $0.16 (1%) compared to last week. The highest price recorded was $77.51 per barrel, and the lowest was $75.38 per barrel.

In contrast, the price of URALS crude oil fell to an average of $60.73 per barrel, a slight decrease of $0.06 (0.1%) from the prior week. The peak price for URALS was $61.74 per barrel, while the lowest price was $59.74 per barrel. Meanwhile, the Dated Brent benchmark oil price increased by $0.1 (0.13%), arriving at $75.90 per barrel, with a high of $76.98 per barrel and a low of $75.02 per barrel.