The price of Azerbaijan's Azeri Light crude fell by 1.6% to $93.97 per barrel, while Brent traded at $92.73.
AI will summarize what happened, why it matters and what it means for business.
The price of one barrel of Azerbaijani Azeri Light crude on the world market decreased by $1.53, or 1.6%, to $93.97.
At the close of trading, the price of September futures for Brent crude stood at $92.73.
The price of Azerbaijani oil in Turkey's Ceyhan on FOB terms decreased by $1.69, or 1.82%, to $91 per barrel.
In Azerbaijan's state budget for this year, the oil price is set at $65 per barrel.
Azeri Light oil price was above $95.50 per barrel
The price of Azeri Light crude fell by 1.6% to $93.97 per barrel.
Further oil price changes are expected depending on global markets.
Why crude has several prices, what an Azeri Light premium or discount means and which numbers matter for Azerbaijan.
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