Baku: The price of Azeri Light crude oil increased by $0.08, or 0.11%, reaching a price of $69.8 per barrel.

According to Azerbaijan State News Agency, the historical data for Azeri Light crude oil shows significant fluctuations. The all-time low was recorded at $15.81 per barrel on April 21, 2020, during a period of global economic uncertainty. In contrast, the record high for Azeri Light was $149.66 per barrel in July 2008.

The current price movement is closely watched by market analysts as it provides insights into the broader economic trends impacting the oil market. The changes in oil prices are crucial for the Azerbaijani economy, which relies heavily on oil exports.