Baku: The price of Azerbaijani oil saw a significant rise in the global market. The Azeri Light crude oil recorded an increase of $4.82, or 5.1 percent, reaching a closing price of $98.73 per barrel on Wednesday.

According to Azerbaijan State News Agency, this recent increase highlights the fluctuations in the oil market. Azeri Light crude has experienced notable price changes over the years, with its all-time low recorded at $15.81 per barrel on April 21, 2020, and its record high at $149.66 per barrel in July 2008.