Baku: The price of Azeri Light crude oil rose by $1.23, marking a 1.30 percent increase, to settle at $95.16 per barrel on Tuesday. This development indicates a significant uptick in the value of Azeri Light on the global market.

According to Azerbaijan State News Agency, Azeri Light has experienced substantial fluctuations over the years. The commodity hit its all-time low on April 21, 2020, trading at $15.81 per barrel. Conversely, it reached a record high of $149.66 per barrel in July 2008. These figures highlight the volatility of crude oil prices and underscore the economic dynamics influencing the oil industry.