BAKU: Oil prices have experienced a notable decline this week, with Azerbaijani oil leading the drop, according to Trend reports. The average price for Azeri Light oil, produced at the Azeri-Chirag-Guneshli field, fell by $5.08, or 6.32 percent, compared to the previous week, settling at $75.42 per barrel. During the same period, the maximum price for Azeri Light oil reached $78.68 per barrel, while the minimum price was recorded at $73.26 per barrel.

According to Trend News Agency, the average price for Azeri Light crude oil on a Free on Board (FOB) basis at Trkiye’s Ceyhan port also witnessed a significant decrease. It averaged at $73.87 per barrel this week, marking a reduction of $5.19, or 6.56 percent, from last week’s figures. The highest price at this port was $77.19 per barrel, with the lowest being $71.7 per barrel.

The price for URALS crude oil also saw a decline, dropping by $4.13, or 6.23 percent, from last week to $62.08 per barrel. The top price for URALS crude reached $65.2 per barrel, while
the minimum was recorded at $60.32 per barrel.

Dated Brent benchmark crude oil prices followed a similar downward trend, falling by $4.86, or 6.13 percent, to $74.38 per barrel. The peak price for Dated Brent was $77.81 per barrel, and the lowest was noted at $72.55 per barrel.