Baku: The price of Azeri Light crude oil increased by $8.54, or 8.49 percent, to settle at $109.01 per barrel on Friday.
According to Azerbaijan State News Agency, this rise marks a significant change in the market for Azeri Light crude oil. 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.
The fluctuations in the price of Azeri Light highlight the volatility in the global oil markets, impacting economic and trade considerations for Azerbaijan. Analysts continue to monitor these changes closely as the market reacts to various factors influencing oil prices worldwide.