Baku: Oil prices on global markets fell by nearly 14% in the third quarter of this year. In the third quarter of this year (July-September), the average price of one barrel of Brent benchmark oil in world markets amounted to 69 US dollars, which is 13.9% lower compared to the corresponding period last year (80.2 dollars).
According to Azeri-Press News Agency, citing the World Bank’s monthly report on commodity prices, compared to the second quarter of the year (67.8 dollars), the price of Brent in July-September is 1.8% higher. It is reported that in September of the current year, the average price of Brent oil was at the level of 68 dollars, which is 0.3% lower compared to August’s figure (68.2 dollars).
The report notes that in 2024, the average price of Brent oil was at the level of 80.7 dollars, which is 2.3% lower compared to the 2023 figure (82.6 dollars).
According to the information, in July-September of the current year, the average price of one barrel of WTI (West Texas Intermediate) benchmark oil was equal to 65 US dollars, which is 13.6% lower compared to the third quarter figure of 2024 (75.2 dollars). Compared to the second quarter of the current year (63.9 dollars), the price of WTI oil in April-June is 1.7% higher.
The report states that in September of the current year, the average price of WTI was 63.7 dollars, which means a 0.6% decrease compared to the previous month’s figure (64.1 dollars). It is noted that last year the average price of WTI oil was 75.8 dollars, which is 2.4% lower compared to the figure of the previous year (77.7 dollars).