BAKU, Azerbaijan — Azerbaijani crude oil has seen a marginal decrease in price, according to recent market data. Azeri Light crude oil, a major export grade, declined slightly by $0.34, settling at $77.86 per barrel CIF at the Italian port of Augusta as of September 20.

According to Trend News Agency, the price adjustment is reflected across multiple grades. Azeri LT FOB Ceyhan, another key benchmark, decreased by $0.33 to $76.79 per barrel. Additionally, URALS oil price dropped by $0.24 to $62.46 per barrel, and the Dated Brent, a global benchmark for oil prices produced in the North Sea, fell by $0.57 to $76.01 per barrel on the same date.

These slight price adjustments come amid broader global oil market dynamics and are indicative of the fluctuating nature of oil prices influenced by various geopolitical and economic factors. The official exchange rate remained stable at 1.7 AZN to 1 USD as of September 21.