Weekly review of Azerbaijani oil prices

The average prices for Dated Brent, Azeri LT CIF, Azeri Light FOB Ceyhan, and Urals (EX NOVO) crude oil experienced a decline this week, Azernews reports.

The average cost of Azeri Light crude oil on a CIF basis from Azerbaijan's Azeri-Chirag-Gunashli field dropped by $2.88, or 3.95 percent, compared to the previous week, totaling $69.94 per barrel. During this period, the highest recorded price was $71.23 per barrel, while the lowest was $69.19.

For Azeri Light crude oil sold FOB at the Turkish port of Ceyhan, the average price stood at $68.65 per barrel, representing a decrease of $2.9, or 4.05 percent, from last week. The peak price reached $69.88 per barrel, and the minimum was $68.09.

The price of Urals crude oil fell to an average of $57.47 per barrel, a decrease of $0.61, or 1.05 percent, compared to the previous week. The highest price recorded for Urals was $58.39 per barrel, with the lowest at $56.83.

Meanwhile, the Dated Brent benchmark dropped by $0.85, or 1.2 percent, to $70.08 per barrel. Its highest point was $70.8, while the lowest was $69.56 per barrel.