Baku: The price of Azeri Light crude oil fell by $1.66, or 2.35%, settling at $68.88 per barrel on Tuesday.
According to Azerbaijan State News Agency, the recent decrease in the price of Azeri Light crude oil marks a significant shift in the global oil market. Historically, the lowest recorded price for Azeri Light was $15.81 per barrel on April 21, 2020, during a period of extreme market volatility. Conversely, the highest price ever recorded was $149.66 per barrel in July 2008, reflecting a time of heightened demand and economic activity.