Baku: The average price of one barrel of Brent crude oil on global markets stood at $107.5 in May this year, marking a 10.7% decrease from the previous month's level of $120.4.

According to Azeri-Press News Agency, the average price of one barrel of Brent crude on global markets reached $80.5 in the first quarter of this year, which is 6.5% higher than the same period last year, when it was $75.6. The World Bank's report also highlighted that the average price of Brent crude stood at $69 in 2025, showing a 14.5% decline from the 2024 figure of $80.7.

The report further detailed that the average price of one barrel of WTI (West Texas Intermediate) crude oil was $99.1 in May this year, experiencing a slight increase of 0.51% compared to the previous month's level of $98.6. It was also noted that the average price of WTI crude on global markets stood at $72 in the first quarter of this year, which is 0.84% higher than the corresponding period last year, when it was $71.4.

Moreover, the report added that the average price of WTI crude was $64.9 in 2025, reflecting a 14.4% decrease compared to the previous year's figure of $75.8.