Cost of Azerbaijani oil has declined


May 29, Fineko/ The price of a barrel of Azerbaijan's oil Azeri Light has decreased by $2.57 (3.21%).

Cost of oil grade Azeri Light is now $77.55 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 July’s futures of oil grade WTI reduced by $1.61 (1.61%) to $66.79 a barrel.

At the London ICE (InterContinental Exchange Futures) the cost of July’s futures of oil grade of Brent crude increased by $0.25 (0.33%) up to $75.55 a barrel.

The price gap between Brent and WTI is now $8.76 on a barrel.