Baku: The price of Azeri Light crude oil increased by $1.75, or 1.5 percent, to settle at $118.16 per barrel on Tuesday.
According to Azerbaijan State News Agency, the all-time low for Azeri Light was $15.81 per barrel on April 21, 2020, while the record high stood at $149.66 per barrel in July 2008. This fluctuation in oil prices reflects changes in global market conditions and economic factors influencing supply and demand.