Cost of Azerbaijani oil has fallen


May 24, Fineko/abc.az. The price of a barrel of Azerbaijan's oil Azeri Light on the world market has decreased by $1.43 (1.76%).

Cost of oil grade Azeri Light is now $79.89 a barrel.

The lowest price for Azeri Light was fixed in December 2001 - $19.15 and highest price in July 2008 - $149.66.

At the New York Merchant Exchange (NYMEX) the value of WTI crude declined by $0.28 (0.39%) to $71.56 a barrel.

At the London ICE (InterContinental Exchange Futures) the cost of July’s futures of oil grade of Brent crude has declined by $0.39 (0.49%) to $79.41 a barrel.

The price gap between Brent and WTI is now $7.85 on a barrel.