BAKU: Azerbaijani oil prices recorded a mild decrease on October 15, with Azeri Light crude oil falling to $74.75 per barrel, according to the latest market data. The decline in oil prices also affected other benchmarks, indicating a broader market trend.

According to Trend News Agency, the price of Azerbaijani Azeri Light crude oil, as quoted on a Cost, Insurance, and Freight (CIF) basis at the Italian port of Augusta, decreased by $3.93 from its previous value. Concurrently, Azeri LT FOB Ceyhan, which refers to oil prices at the Turkish port of Ceyhan, also saw a reduction, dropping by $3.99 to settle at $73.2 per barrel.

In related developments, the price of URALS crude experienced a decrease of $3.95, bringing it to $61.25 per barrel. Additionally, the widely tracked Dated Brent oil, a major North Sea production benchmark, declined by $4.28, closing at $73.53 per barrel on the same day.

These price movements come in the context of global oil market dynamics and are reflective of broader economic indica
tors. The official exchange rate reported on October 16 was 1.7 Azerbaijani Manat (AZN) to 1 US Dollar (USD), which plays a significant role in the financial calculations related to the oil trade.