Baku: The price of Azeri Light crude oil increased by $2.41, or 2.63 percent, reaching $93.91 per barrel on Tuesday. This marks a significant uptick in pricing for the commodity, reflecting ongoing fluctuations in the global oil market.

According to Azerbaijan State News Agency, the current price is still far from the record high of $149.66 per barrel, which was observed in July 2008. On the other hand, it is substantially above the all-time low of $15.81 per barrel recorded on April 21, 2020. The recent increase highlights the volatility and dynamic nature of oil pricing on the international stage.