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Azeri LT CIF oil prices fell by $3.10, or 3.76%, to $79.35 per barrel on the global market, according to Azernews.
October futures for Brent crude were priced at $77.20 per barrel.
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Azerbaijan’s 2024 state budget anticipates an average oil price of $75 per barrel.
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The lowest recorded price for Azeri Light was $15.81 on April 21, 2020, while the highest was $149.66 in July 2008.
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The October 2024 contract for Brent oil saw a minor decrease of 0.09%, settling at $77.13 per barrel on the ICE London Intercontinental Exchange.
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On the New York NYMEX commodity exchange, October WTI oil prices fell by 0.15%, reaching $73.06 per barrel.
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