BAKU, Azerbaijan, May 16. Oil prices fell last week, Trend reports.
During the reporting period, the average price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by $2.21 (1.92 percent) compared to the previous week and reached $112.85 per barrel. The maximum price for Azeri LT CIF Augusta was $117.25 per barrel in the reporting period, the minimum was $108.77.
Last week, the average price of Azeri LT FOB Ceyhan amounted to $111.65 per barrel, which is $2.18 (1.91 percent) more than the week before last. The maximum price for Azeri LT FOB Ceyhan was $116.08 per barrel in the reporting period, the minimum was $107.55.
Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.
The average price of URALS oil decreased by $2.62 (3.54 percent) last week compared to the week before last and amounted to $71.23 per barrel. The maximum price for URALS was $74.75 per barrel, the minimum was $67.6.
Meanwhile, the average price for the reference grade of Brent Dated oil decreased by 2.57 percent (or $2.84) as a result of last week, to $107.63 per barrel. The maximum price for Brent was $111.35 per barrel, the minimum was $103.87 per barrel.
Oil grade/Date |
09.05.22 |
10.05.22 |
11.05.22 |
12.05.22 |
13.05.22 |
Average price |
Azeri LT CIF |
$111.55 |
$108.77 |
$112.73 |
$113.98 |
$117.25 |
$112.85 |
Azeri Light FOB Ceyhan |
$110.33 |
$107.55 |
$111.52 |
$112.79 |
$116.08 |
$111.65 |
Urals (EX NOVO) |
$70.40 |
$67.60 |
$71.19 |
$72.22 |
$74.75 |
$71.23 |
Brent Dated |
$106.74 |
$103.87 |
$107.48 |
$108.70 |
$111.35 |
$107.63 |